Big Tech and Banks Begin to Partner

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.