Why big tech ventures into financial services – and vice versa

Описание: We all know Apple as a tech company. Recently, Apple successfully launched a high-yield savings account on the US market. According to Forbes, more than $1b was deposited into those Apple savings accounts in just a few days. And the company was able to gain the trust of over 250,000 people to start saving at Apple. Is it surprising that tech companies venture into financial services? And what’s the strategic reasoning behind this move? We’ve asked Professor Bjorn Cumps for a full account of the facts. Bjorn is a Professor of Financial Services Innovation and has a passion for FinTech, platforms and business ecosystems.