Aug
[INFOGRAPHIC] Big Tech: What Does This Mean for Financial Institutions Today?
In the ever-evolving landscape of technology, industry giants such as Apple, Meta and Amazon stand at the forefront, shaping the digital realm in distinct and powerful ways
Andreas Farge
Director — E-commerce and Payment Method Lead
Big Tech is expanding its role across the financial services sector. At the front end, we learn that Apple Pay has more than 500 mn users (Source: Business of Apps, Ant Group, Loup Ventures, Tencent). At the backend, we learn that Amazon Cloud commands 1/3 of the cloud computing market powering the internet as we know it (Source: Synergy Research Group).
As these players seep deeper into the different levels of the value chain, PCMI asks the question: what does this mean for financial institutions today?
In the infographic below, we explore the depth of involvement from Apple, Alphabet, Amazon, and Meta are currently at in the industry, taking a closer look at:
- Defining Big Tech
- Main strategies used by Big Tech in financial services,
- Mapping of Big Tech in select financial services value chain
- Identifying the impact of Big Tech and their measurable reach
- Pose strategic questions that Big Tech and financial service providers must pose themselves
And much more.
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PCMI specializes in global payments market research and intelligence for Asia (including China, India, Indonesia, Japan, Singapore, Malaysia, Philippines, Australia, and more), Europe (UK, Spain, Portugal, France, Italy, Germany, Poland, Sweden, Turkey, and more), Africa (Egypt, Morocco, Kenya, Nigeria, Ivory Coast, Ghana, and South Africa), and of course, Latin America and the Caribbean (LAC), a market for which which we have produced hundreds of payments market studies in just about every country.
