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💳Fintech & Financial Services

Digital Markets Act for Fintech & Financial Services

The DMA designates large online platforms as 'gatekeepers' and imposes obligations to ensure contestable and fair digital markets. Targets the largest tech platforms operating in the EU.

Deadline

May 2023 (enforcement ongoing)

Max Fine

€20M or 10% of global turnover; 20% for repeat infringements

Sectors Affected

Large Online Platforms, Search Engines, Social Networks

What DMA means for Fintech & Financial Services

Fintech & Financial Services organisations operating in the EU must comply with DMA obligations. Below are the key requirements that apply to your sector.

  • Allow third-party interoperability
  • Prohibit self-preferencing own services
  • Ensure data portability for users
  • Obtain explicit consent for data combination
  • Notify acquisitions to Commission

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For informational purposes only. This is not legal advice — consult qualified legal counsel.