Big tech companies poised to disrupt financial services – FSB

New report claims fintech hasn’t had an impact on competition in financial sector

cloud technology - Getty - web.jpg
Well-established tech firms, including Amazon and Apple, are gaining a foothold in financial services via cloud computing

Big technology companies could disrupt the financial services market to the point where existing firms take increased risks, a report from the Financial Stability Board says.

In its new report, FinTech and market structure in financial services, published today (February 14), the FSB analyses whether technology companies entering the sector could harm financial stability.

“Fintech firms have generally not had sufficient access to the low-cost funding or the customer base necessary to pose a

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