UK watchdog labels Big Tech a threat basic bank accounts

By on
UK watchdog labels Big Tech a threat basic bank accounts

Undermines ability to offer free accounts.

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, ...

Hi! You've reached one of our premium articles. This is available exclusively to subscribers.

It's free to register, and only takes a few minutes.

Once you sign up you'll have unlimited access to the full catalogue of Australia's best business IT content, as well as a daily news bulletin delivered straight to your inbox.

Register now
Got a news tip for our journalists? Share it with us anonymously here.
Tags:
amazon finance financial conduct authority google

Most Read Articles

Millions of Australians' sensitive medical images, data left openly accessible

Millions of Australians' sensitive medical images, data left openly accessible
Google slams Aussie threat to 'directly intervene' on Android defaults

Google slams Aussie threat to 'directly intervene' on Android defaults
Getting bricked ... an unauthorised Lego retrospective of cyber games in Canberra

Getting bricked ... an unauthorised Lego retrospective of cyber games in Canberra
NBN Co floats "up to" gigabit speeds for $80 a month

NBN Co floats "up to" gigabit speeds for $80 a month
You must be a registered member of iTnews to post a comment.
| Register

Whitepapers from our sponsors

Is your AWS framework well-architected?
Is your AWS framework well-architected?
Why you should reassess your cybersecurity posture
Why you should reassess your cybersecurity posture
How will you manage the cloud data deluge?
How will you manage the cloud data deluge?
Follow these steps to prevent targeted attacks
Follow these steps to prevent targeted attacks
Your mobile devices may not be secure – learn how to fix that
Your mobile devices may not be secure – learn how to fix that

Events

Log In

Username / Email:
Password:
  |  Forgot your password?