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Milano University Press

Banking and financial digital platforms: conflict of laws issues from a European perspective

  • Silvia Favalli (author)
Chapter of: Law in the Age of Digital Technologies(pp. 183–216)
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TitleBanking and financial digital platforms: conflict of laws issues from a European perspective
DOIhttps://doi.org/10.54103/milanoup.215.c451
Landing pagehttps://libri.unimi.it/index.php/milanoup/catalog/book/215
PublisherMilano University Press
Published on2025-07-28
Long abstract

Advances in technologies, such as enhanced computing power, cryptography and artificial intelligence, are transforming the way banking and financial services are provided. On the one hand, disruptive disintermediation-enabling technology, belonging to alternative finance forms, is challenging traditional banking intermediaries’ role. On the other hand, new intermediaries, whose activities have not traditionally encompassed finance, such as social media companies, are being drawn into the financial industry. Moreover, increased internet speed and easier mobile access are giving rise to rapid growth in the use of banking and financial digital platforms, in particular among consumers, start-ups, SMEs and social enterprises. This trend is also expected to accelerate, as digital platforms reduce costs, facilitate access to financial products and services, and enhance cross-border operations. However, as a consequence, new private international law problems are emerging along with the widespread use of digital platforms. Against this background, this paper, which is informed by a doctrinal legal methodology, addresses the emerging conflict of laws issues European users of banking and financial digital platforms face. For this purpose, it will first set the scene of the relevant EU legal framework in relation to banking and financial digital platforms, categorized, on the basis of the function they perform, as follows: (i) lending and financing fintech platforms, including balance-sheet lending and crowdfunding platforms; (ii) robo advice and algorithmic trading platforms; (iii) digital payment services and e-money; (iv) financial services related to crypto assets. On the basis of the analysis provided, it will finally focus on the forum and applicable law issues faced by European users of banking and financial digital platforms.

Page rangepp. 183-216
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PDFhttps://libri.unimi.it/index.php/milanoup/catalog/book/215Landing pagehttps://libri.unimi.it/index.php/milanoup/catalog/view/215/1045/2425Full text URL

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