Major financial institutions could face even more pressure on their margins from the world's largest technology companies, such as APPLE, AMAZON and GOOGLE, as they get more involved in providing financial services. The warning came from a report by the Financial Stability Board, the body set up by the G20 after the 2008 financial crisis to monitor risks and reshape regulations on a global level. "They [big technology firms] may compete directly with existing financial institutions, reducing margins in the affected segments and reducing the financial institution's capacity to cross-subsidise products," the FSB said.
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