FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium May 5, 2021. REUTERS/Yves Herman/File Photo
LONDON (Reuters) - Regulators have little understanding of risks from banks creating digital marketplaces with tech companies and a framework is needed to spot potential contagion if things go wrong, the European Union's banking watchdog said on Tuesday.
The European Banking Authority's warning is the latest sign that financial regulators are starting to pay more attention to Big Tech's increasing links with finance, such as in cloud computing.
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!
