Compliance

Facebook’s integration plan, announced in January, has come under criticism from those who say the move would make it harder to break up Facebook as part of any antitrust case against the company.

“Access to technical interfaces is now a key competitive factor for payment systems,” said a spokeswoman for the Association of German Banks. “The same conditions should apply to all market participants.”

“I want us to be the model jurisdiction in the world for how we are dealing with digital platforms,” said Australian Prime Minister Scott Morrison. “We have regulation and restrictions that were written for an analog economy.”

The concern is that banks need to comply with strict regulatory requirements to protect client data. But their industry is being infiltrated by competitors that aren’t necessarily subject to the same rules.

Large technology companies like Apple and Google parent Alphabet are increasingly offering financial services to boost revenue and gain greater access to the data that is at the heart of their business models.

The EU’s request could add a new strand to the antitrust probe it opened in July that’s looking into how Amazon’s retail arm uses data gathered on marketplace merchants to gain an advantage.

Oracle Corp. is also mounting a legal challenge to the cloud contract, known as JEDI. The project is designed to consolidate the Defense Department’s cloud computing infrastructure and modernize its technology systems.