Is it foolish to believe that Big Tech won’t be successful if they enter financial services?

The industry is divided when it comes to the tech giants: Google, Apple, Amazon and Facebook. There are those that believe it will only be a matter of time before we see GAFA and their Asian counterparts making significant headway into financial services, and others who are adamant that they will be reluctant to enter a highly regulated market. This video demonstrates just how Big Tech has divided industry opinion. Will they stop at payments, will they collaborate with established platers? Or do the banking and payments industries run the risk of underestimating the ambitions of GAFA and sitting on the losing side of the competition?

Answered by Business InsiderDankse Bank, Erste Group Bank AGPaypal, Frontier EconomicsUniCredit Group

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