The big question in fintech for the last few years is what will happen when firms like Facebook, Google, Amazon and Apple enter the market; big tech has already started disrupting financial services through payments and lending, now these giants are beginning to parter with banks on new products; most recently you have Apple launching a card with Goldman Sachs; Goldman Sachs did not join in the fanfare but instead was more of a quiet partner as Apple launched the product; Amazon has been rumored to be partnering with JPMorgan Chase on a checking account, though there have been a few regulatory hurdles that has slowed progress; big tech is here, now banks and fintechs are trying to figure out how to best handle the competition and where they see partnership opportunities. Source.
