Banks around the world have spent the past few years preparing for competition from small, nimble technology startups. Instead, it’s become clear that e-commerce companies such as Amazon and Alibaba Group Holding Ltd . "Bezos, the founder and chief executive officer of Amazon, built the company into the world’s biggest online retailer. "They are under pressure to keep increasing revenue, and financial services is a large pool they can go after. Banks that go further by creating their own platforms could elevate their ROE to 14 percent, according to the report.

Source: Economic Times October 26, 2017 04:07 UTC