By Maikel Van Wissen & Lodewick Prompers –
The role that big data plays in the financial services industry is changing at a rapid pace. Data is no longer a lump of facts but rather a vibrant source of insight leading to innovative products and better business decisions. As a result, big data is transforming the processes and organization of financial services firms. In this article, the authors analyze these developments from an EU competition law perspective, providing insights into the relevant analytical framework, key considerations and potential concerns that may arise under EU competition law in relation to the use of big data in the financial services sector.