Big Tech Pushes Deeper into Banking Without Regulatory Hassle

2019 saw a number of big moves from big tech companies when it came to financial services and 2020 is set to be a breakout year; the one key aspect that big tech companies want no part of in the banking market is increased regulation; instead these companies are looking to double down on partnerships with banks and financial services firms; “The big tech firms will continue to add services that are peripheral to banking to their existing offerings, without going full-stack banking,” Sarah Kocianski, Head of Research at fintech consultancy 11:FS said to CNBC. “The headache of getting, and maintaining, a banking license would likely be considered too big a risk for these companies. Instead, they will continue to operate with licensed partners.”; Facebook is the one big tech company that might make the biggest leap with Libra, though they face a steep regulatory climb and a lot of uncertainty over their effort. CNBC

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.