Do China Tech Giants Pose a Risk to European Banks?

Ant group dealt a setback with the shelving of its IPO but European banks remain wary that Chinese tech giants maybe their competitors.

Ant Group-owned Alipay is among the Chinese start-ups to have emerged in recent years to disrupt brick and mortar banks by offering digital services.

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CHINA’S Ant group may have been dealt a setback with the shelving of its IPO but European banks remain wary that Chinese tech giants may soon be their main competitors.

The European finance sector has in recent years seen the emergence of a large number of startups – called fintech – which have sought to disrupt brick and mortar banks by offering digital services. 

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Originally published at Malaysiannight

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