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

Sponsored Whitepapers

DevSecOps: A framework for digital innovation
DevSecOps: A framework for digital innovation
Encryption: Protect your most critical data
Encryption: Protect your most critical data
Overcoming data security challenges in a hybrid, multicloud world
Overcoming data security challenges in a hybrid, multicloud world
Move beyond passwords
Move beyond passwords
The top 5 tech trends to deliver business outcomes
The top 5 tech trends to deliver business outcomes

Events

Most Read Articles

CBA becomes first 'Big 4' data recipient under CDR

CBA becomes first 'Big 4' data recipient under CDR
NSW Police green-lights Mark43 for $1bn COPS overhaul

NSW Police green-lights Mark43 for $1bn COPS overhaul
Urgent patches out for exploited Exchange Server zero-days

Urgent patches out for exploited Exchange Server zero-days
NBN Co to start consulting on gigabit speeds for FTTC

NBN Co to start consulting on gigabit speeds for FTTC
You must be a registered member of iTnews to post a comment.
| Register

Log In

Username / Email:
Password:
  |  Forgot your password?