Will US Tech Giants Take Over Financial Services In The Future?

People who are searching for employment opportunities go to job sites where current job openings are posted. They look for information about the company through reviews like King Kong reviews that reveal inside scoop about the digital agency. A company website often includes information like job description but what matters to applicants are work-life balance and opportunities for advancement.

According to research report from Business Insider Intelligence, tech giants are preparing to grab up to 40% of the $1.35 trillion revenue of US financial services from existing banks. Tech giants that include Apple, Amazon and Google are encroaching on financial services to gain a larger foothold. Incumbents are threatened by the size and ability of the tech giants to attract massive loyal bases.

Apply has invigorated its revenue by deepening its financial service strategies. Apple’s expertise makes it a legitimate threat to legacy players. Meanwhile, Google’s platform has an agnostic approach with wide international penetration and a top position to attract talent. Its global reach is unrivalled and goes beyond consumer payments.

Google’s money movement as well as commerce services will allow the tech giant to set up payments hub with unparalleled global reach. Google can easily undertake global expansion by modifying its offerings in different markets and delve into digital remittance. Examples of those markets are India and Europe.

Apple is an expert in consumer-facing tech products. Its next move could be a debit card or a PFM app which would be cohesive with its existing offerings.

Amazon has literally taken over every market share in industries that is has touched. Now, Amazon is setting its sights on financial services which could quickly undercut legacy players. Amazon could easily develop checking and savings accounts, bring Amazon Pay-in store and white-label the technology of Amazon Go stores to deepen its footprint in the financial services sector.

Before you submit your application to a digital agency, make sure you thoroughly read the company’s reviews. For example, there are King Kong reviews regarding work culture, staff perks, growth opportunities and work-life balance. Employees are the best sources of information because they have actual experience working with the digital agency.

Comments are disabled