Business

New Perspective – Silicon Valley takes on the banks

By November 27, 2019 No Comments

Perspectives on Mogul News are a curated selection of stories from the world’s leading publishers, giving you more than one side of the story on important issues that face us, and society as a whole.

In this week’s Perspective, we look at big tech companies moving into the finance sector. Here’s a quick note from our editor to tell you more.

Google is launching a current account. Apple has already released its credit card. Facebook is building a payment system across all its platforms. The big tech companies of Silicon Valley want to be your bank now.

They are coming up against both long-established players with deep pockets and newly created disruptive companies born in the image of the Valley. On both sides of the Atlantic, firms are looking to win you and your money over.

The three-way fight for your wallet is only just beginning. Why do the titans of Silicon Valley want to provide banking services? What are the big banks like HSBC and Barclays doing to fight not just them off, but also the fintech unicorns like Revolut and Monzo?

How will be the eventual winner? Take a look at how Silicon Valley is taking on the banks in the latest Perspective from Mogul News and make up your own mind. Sign up for 7 days free today!