What if Big Tech takes over finance?

So this week started off with facebook and now it’ll end with facebook. This is a story that @saad brought to my attention for this week’s Weekend Read.

The quote below from founder, CEO and chairman of Capital One, Rich Fairbank really covers it all “Often we’re asked by investors about fintechs and what about this start-up and that start-up. And of course, we keep an eye on that. I think the sort of elephant in the room is the gigantic tech companies and the sort of opportunities that they have.”

The author gives a good reading what’s already going on with big tech and financial services, where they’re offering those services, who’s offering them and how they’re coming along.

Following that we’re also treated to possible “solutions” available to regulators and their proposed future.

Looking forward to hearing what you guys think. Do you think it’s inevitable that big tech continues to take over financial services? Is this something that interests you?