For the last decade, the GAFAs have systematically built capabilities in areas such as digital wallets, payments, and price comparison engines. These activities, as well as their reputation as the most disruptive firms in the market, have increasingly left many incumbent bank senior executives worried about potential new rivals.
Only this month it was reported that Chase was in talks with Amazon about a possible extension of the tech giant’s expansion into financial services via a white-labelling agreement.
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But could we ever see a GAFA applying for a full banking licence? Who is better positioned to leverage the opportunities of PSD2 and Open Banking – the banks or the GAFAs?
Those points and others will be discussed at the next Live Debate at The Digital Banking Club.
The debate will be chaired by Douglas Blakey, Editor, Retail Banker International and Chair of the Digital Banking Club. Joining Douglas will be a stellar panel:
- Alessandro Hatami, Founder, Forestreet
- Nick Ogden, Founder, ClearBank
- Oliwia Berdak, Principal Analyst, Forrester
- Tom Blomfield, Founder, Monzo
- Simon Cadbury, Director of Strategy and Marketing, Intelligent Environments
Location: The Law Society, London WC2A 1PL
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