Tuesday, 22 August 2017

Tech firms like Amazon (AMZN), Facebook (FB), and Google (GOOGL) are the biggest competitive threats to the banking industry — Quartz

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Much has been made of the rise of fintech [but] according to a report by the World Economic Forum (WEF), traditional banks are more vulnerable to competition from another source: tech giants like Amazon, Facebook, and Google.

From Tech firms like Amazon (AMZN), Facebook (FB), and Google (GOOGL) are the biggest competitive threats to the banking industry — Quartz

As I have said for some time, it is not all obvious to me that what we refer to as the “challenger” banks in the UK (i.e., the new banks who have obtained licences in recent years) are not really challengers at all.

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