The Portuguese Competition Authority identifies barriers to entry of new FinTech firms and recommends measures to promote choice for consumers and companies

The AdC identifies barriers to entry of new FinTech firms and recommends measures to promote choice for consumers and companies in financial services in Portugal* The Portuguese Competition Authority - Autoridade da Concorrência (AdC), identified barriers to entry of new firms based on innovative technologies applied to the financial sector – the so-called FinTech, in Portugal. These barriers mainly relate to the regulatory framework and the risk of market foreclosure of FinTech entrants by incumbent banks. The AdC launches a public consultation to an issues paper on Innovation and Competition in the Financial Sector in Portugal, highlighting that the innovative technologies into the financial sectors and the new FinTech entrants may play a key role in promoting choice and increased