December 14, 2017
As technology companies are gradually invading the financial world, the circle tightens up around the most expected step – fully-fledged banking services from the likes of Amazon. The year 2018 will reveal startups to be a healthy push to innovation adoption rather than any substantial competition, while Telcos, WhatsApps, Amazons of the world increase the pressure in already actively transforming financial services industry.
Retailers like Wal-Mart Stores Inc. have long wanted in on banking, and regulators might finally be on their side. That could open the door to a Bank of Amazon or a Facebook Financial. If these technology giants did decide to move into finance, they would have a few major advantages over the banks: better data, a superior user experience, and immense customer loyalty.
The tech behemot ...