FILE PHOTO: The logo of the web service Amazon is pictured in this June 8, 2017 illustration photo. REUTERS/Carlos Jasso/File Photo
Amazon, Google and other Big Tech companies could compete with banks in basic products and undermine their ability to offer free accounts, Britain's financial watchdog said on Tuesday.
The Financial Conduct Authority published its final report on its study of retail banking business models, saying new payments services could attract retailers like Amazon into banking.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
