UK regulator launches inquiry into Apple’s, other tech firms’ financial services

The UK’s Financial Conduct Authority is launching an inquiry this week into moves by Apple, Amazon, Google, and Meta into retail financial services.Tim Bradshaw for Financial Times:It is asking the Big Tech companies, their partners and potential rivals for their views on Silicon Valley’s expansion into payments, deposits, credit and insurance.
While acknowledging that consumers may benefit in the short term, the FCA suggests that Big Tech companies might be able to “exploit th