Europe has been working towards a more integrated, competitive and accessible financial market. Digitalisation has multiplied distribution channels, facilitated access to financial products and made an increasing number of offers available at the click of a button. But this development raises a fundamental question: does having more options necessarily lead to better decisions for consumers?

The answer depends on an often underestimated factor: the ability to compare. Competition is not measured solely by the number of institutions or products available. It also depends on whether consumers can genuinely understand the alternatives, assess their respective costs and benefits, and choose the option that best meets their needs.

This distinction is particularly relevant in the European credit market, where the diversity of products, national regulatory frameworks and commercial practices continues to make comparisons difficult.

A loan is about much more than the advertised interest rate…