The constant progress in the field of digital technologies evokes the desire for more digitalization and less analogue processes also in the credit business. However, laws and regulations generally tend to not have been adapted to such digital transformation yet. Considering the heavy regulation and liability risks banks and their executive organs underly, the questions arises – What are the hurdles the current Austrian regulatory law regime imposes on the fully digital handling of credit processes?
One of the leading Austrian legal journals, the Zeitschrift für Finanzmarktrecht (ZFR), has published an article by Mimo Hussein and Georg Kramer on this topic. Herein, they discuss hurdles and possible solutions in order to fully digitalize credit processes from an Austrian regulatory law perspective.
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originally published in: Zeitschrift für Finanzmarktrecht (ZFR)