EBA has published a discussion paper on innovative uses of consumer data by financial institutions. It identifies risks and benefits for consumers and financial institutions, as well as for financial integrity in general. It says consumers benefit from cost reductions, improved product quality and utilising new sources of revenue, whilst risks come in the form of information asymmetries and data misuse and security. It asks for comment by 4 August. (Source: EBA seeks views on the use of consumer data)