Friday, December 9, 2022
Published 3 Years Ago on Saturday, Feb 22 2020 By Inside Telecom Staff
Tech giants are predicted to take up to around 40% of the $1.35 trillion in US financial services revenue from incumbent banks. Three of the largest US based, multinational tech companies — Apple, Google, and Amazon — are increasing their scope and slowing encroaching on financial services and the new era of FinTech. This is expected to threaten incumbent banks, as a result of their size and ability to attract massive, loyal user bases.
is expanding its hold in financial services as a means of invigorating and
reviving revenue. Its expertise could make it a legitimate threat to legacy
players. Google’s platform-agnostic perspective, wide international audience
and penetration, and the best talent, position it as a hub with unmatched
global reach that goes further than simple consumer payments. And Amazon —
which has the monopoly of market share in every industry it’s touched, now has
its sights firmly set on financial services — and could swiftly destabilize
legacy players by underselling.
The Tech Giants In Financial Services report, examines the moves that Apple, Google, and Amazon are making to gain a more substantial foothold in the global financial services industry. It details specifically each tech company’s threat to incumbent banks and outlines the potential next steps based on their existing strategy in the financial services domain.
Amazon, Google, Goldman Sachs, Mastercard, Barclaycard, Citi, Chase, Capital
One, Paytm, and PhonePe and the companies specified in the report which; Outlines
the threat posed by Apple, Amazon, and Google to legacy financial players; Identifies
each tech giant’s strengths, weaknesses, opportunities, and threats moving
further into financial services and; Discusses each company’s moves in
financial services and their anticipated next steps in the space.
Oman to host the Huawei ICT Competition Middle EastRegional Finals 2022 in Muscat on December 20 – 22 Middle East, December 09, 2022: Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices, announced the national finalists who will take part in the Huawei ICT Competition Middle EastRegional Finals 2022, […]
Stay tuned with our weekly newsletter on all telecom and tech related news.
© Copyright 2022, All Rights Reserved