News Snapshot:
Mon, Nov 23, 2020 page15 European banks worry over Chinese fintech competition AFP, PARIS China’s Ant Group Co (螞蟻集團) might have been dealt a setback with the shelving of its initial public offering (IPO), but European banks remain wary that Chinese tech giants might soon be their main competitors. Europe’s financial sector has in recent years seen the emergence of a large number of start-ups — called fintech — that have sought to disrupt brick and mortar banks by offering digital services. While they have yet to really threaten established banks, the fintechs have forced them to dust off their...
