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General

Bundesbank member calls on financial industry to respond to 'Apple & Co'

Monday 15 April 2019 | 16:56 CET | News
Burkhard Balz, member of the executive board at German central bank Bundesbank, has called on the financial industry to find an alternative to the products offered by "Apple & Co". Large tech companies such as Apple, Google, Paypal and Amazon are increasing their efforts at building customer relationships, while the banks play only a background role in the process of the payments, Balz told Die Welt. The impact on the stability of local financial sector is a concern for the central bank, he noted.  

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Categories: General
Companies: Amazon / Apple / Google / PayPal
Countries: Germany
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