, Columnist
A Warning for Fintech
Rising security costs will blunt a key selling point for start-ups.
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The hacking of Tesco Bank may be a negative for the company's reputation and stock price. But the fallout will be felt across the wider fintech industry.
You might not think of Tesco, the U.K.'s largest grocer, as a start-up. Its banking arm has more than seven million customer accounts and generates about 17 percent of the company's operating profit.