ECB's Costa says banks need to act fast as tech firm rivalry looms

LISBON (Reuters) - European banks must be flexible and quick to act to avoid losing clients as they face imminent rivalry from global technology firms and digital banking apps, European Central Bank board member Carlos Costa said on Tuesday.Costa, who is also the head of the Bank of Portugal, told a conference in Lisbon that financial supervisors such as central banks also need to adopt new tools to deal with "the new reality" of fast-changing financial technology and companies like Facebook or..