Wirecard collapse brings EU fintech rules into sharper focus

Wirecard collapse brings EU fintech rules into sharper focus

The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder

The collapse of German payments firm Wirecard has become a focal point for an overhaul of how the European Union regulates the finance industry as it evolves away from traditional banks towards fintech companies, its financial services chief said.