BigTech Strategic Approaches: Worrying Competition?
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By leveraging on the data acquired within their core businesses, BigTech firms have long offered financial services too, starting with payment services and continuing with lending and wealth management services. Strategies involving widening financial services provision can be implemented according to two main development lines: development to support the main core business or development to diversify the services offered. US and Chinese BigTechs, in particular, are offering an ever increasing number and wider set of products on the market, including via the creation of controlled dedicated financial intermediaries, to allow them to respond to customers’ needs with a holistic approach.
KeywordsBigTech Big data Financial conglomerate Financial services
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