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Online platforms may become ‘digital monopolists’ in banking sector, ECB warns

( February 3, 2021, 09:17 GMT | Official Statement) -- MLex Summary: Major online platforms such as Google or Facebook could become data monopolists, allowing them to behave in anticompetitive ways, a member of the European Central Bank's Supervisory Board has said. Pentti Hakkarainen warned that large-scale outsourcing to digital companies could cause banks to become an "empty shell" unable to manage risks.Digitalisation disrupts traditional banking?...

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