Big tech: a threat to banks?

The explosive growth of big tech companies in China offers important lessons

Digital renminbi

The view that the giant big tech firms could disrupt the banking system, and that regulators should watch out, is gaining ground. Yet the experiences of China (which has, in many ways, become the leader) suggest that this concern is exaggerated. The main reason is that big tech firms already have market power to buy financial services on good terms from a sector that has excess capacity and faces strong regulatory pressure. And big tech can sell its own expertise to banks that need to strengthen

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Global Technology Partner: ACI Worldwide

ACI Worldwide powers 26 domestic and pan-regional real-time payments schemes across six continents, including 10 central infrastructures, providing solutions to central banks, participant banks, fintechs and other payment service providers

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