February 12, 2016
What an exciting time we all live in—the bank is not somewhere you go anymore, it’s something you do. The lines between financial institutions and tech companies have completely disappeared; incomprehensible opportunities have been unleashed by technology, changing our financial lives and behavior forever. We have seen tech companies sliding into finances with such a passion and hunger that it won’t be surprising to witness the launch of the digital-only Google Bank.
Unfortunately for banks, the monopoly on financial services has been abolished almost completely. Tech mammoths like Google and Microsoft are actively exploring opportunities in the financial industry through their investment arms. While Google is a little behind on blockchain, Microsoft has an established leadership in research on the blockchain application. The number of Microsoft initiatives in FinTech may surprise one as the company is not rushing to speak up.
The company is so deeply rooted at the back-end of financial institutions that in the nearest future, it will consolidate enough knowledge and networks to launch a proprietary financial product ...