Internet giants, telcos challenge global banks
Aug 22, 2013 (The Australian Financial Review - ABIX via COMTEX) --
Banks face a competitive threat from internet companies and telcos. Farhad Irani, the head of retail banking at Mashreq, a private bank operating in the United Arab Emirates, told a forum held in Sydney on 22 August 2013 that Google, Amazon and Facebook can become serious competitors in areas such as payments, deposits and lending. In developing countries, telcos are emerging as alternative providers of banking services.
Publication Date: 23 August 2013
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