EU Representative for FinTech Companies
GDPR Article 27 compliance for non-EU FinTech companies. Payments, crypto, lending — EU Representative from €490/yr.
Key Takeaways for FinTech
- FinTech companies process highly sensitive personal and financial data — high GDPR risk
- Any non-EU FinTech with EU users must appoint an EU Representative under Article 27
- Crypto, payments, lending, neo-banking — all equally subject to GDPR
- €490/year — 15-minute setup
Why FinTech Faces Highest GDPR Scrutiny
Financial technology companies process the most sensitive categories of personal data: financial information, transaction history, identity documents (KYC), credit scores, and often geo-location data. EU regulators are acutely focused on financial data protection. The combination of high data sensitivity and cross-border operations makes non-EU FinTech companies a priority target for GDPR enforcement.
If your FinTech platform has EU users — whether you’re a US-based payment processor, a Singaporean crypto exchange, or an Australian neo-bank — GDPR Article 27 requires a designated EU Representative.
FinTech Data Categories Under GDPR
- KYC/AML data: Passport copies, driver’s licenses, selfies, proof of address — special categories of data with higher protection requirements
- Transaction data: Payment histories, transfer records, trading activity — personal data under Article 4(1)
- Financial profiles: Credit scores, risk assessments, spending patterns — profiling under Article 22
- Wallet/account data: Balances, addresses, linked accounts, beneficiaries
- Communication data: Support tickets, dispute records, email correspondence
FinTech Subsectors Most at Risk
Payment processors: If you handle EU merchant payments, you process EU personal data. Stripe-like platforms, payment gateways, and POS systems all qualify.
Crypto exchanges & wallets: Blockchain data may be pseudonymous, but KYC data, wallet addresses tied to identities, and transaction histories are personal data. EU crypto regulation (MiCA) adds layers but doesn’t replace GDPR.
Lending & credit platforms: Loan applications, credit checks, repayment histories — extensive personal and financial data processing.
Neo-banks & digital wallets: Full banking services without a physical branch — you process the full spectrum of personal and financial data.
InsurTech: Policy data, claims data, health/life data — often special category data under Article 9.
Ready to get compliant?
€490/year. 15-minute setup. Active next business day.