What’s this all about?
Roll up, roll up. Big tech firms want to become banks!
At this stage, we’ve all seen the headlines. Whether it’s Google’s checking accounts, Facebook’s cryptocurrency or Amazon’s lending ambitions, Silicon Valley players and their designs on financial services have sparked much speculation into what the end-game for banking looks like.
Indeed, where once fintech disruption was the most significant threat to banks’ centuries-long dominance, today big tech’s push into financial services is giving the major names in finance something to think about. This ‘push’ has mostly manifested in the form of partnerships including Apple and Goldman Sachs, Amazon and Goldman Sachs, Google and Citi, and TSB and Square to name a few.
In this latest comprehensive guide by LEVERIS, we explore the fine details of these partnerships to help us all better understand what exactly is happening. We conclude by tackling four pivotal questions to determine how this trend could shape the future and consider just how ready the tech leviathans are to shoulder the level of audit and compliance necessary to become banks.
Download now if you:
- Want to understand the motivation behind big tech’s finance ambitions
- Are keen for insights into the partnerships, their success and impact on the day-to-day lives of customers
- Have an interest in learning where Banking-as-a-Service (BaaS) fits in
- Want to know whether big tech’s push into financial services is an opportunity, threat or both for banks
Ultimate guide
How big tech and banking are partnering to shape the future of financial services
- Why big tech wants to get into banking
- Analysis on four key partnerships and our take on each one
- What the future might hold
It's those banks that form BaaS partnerships with big tech companies in order to utilise the awesome distribution power of their digital ecosystems that will succeed in the future.
