Transformation Agenda | Panel discussion - Big tech’s pursuit of the financial market

Описание: In 2022, Alphabet, Amazon, Apple, Microsoft and Meta collectively generated an impressive $1.5trn in revenue. These tech titans have been using their heft to enter the financial market. Meta attempted its own cryptocurrency, Libra (with limited success). Many have established payment systems and struck competitive partnerships with banks. With unparalleled brand strength, unrivaled access to data and no need for a banking licence, the tech firms may render traditional banking invisible.



To understand the extent of big tech’s potential impact on financial services, one can look to China, where WeChat Pay and Alipay have already overshadowed credit-card networks and incumbent financial players. Defining the boundaries of big tech’s involvement in finance poses a challenge, as existing laws are not equipped to regulate the control of tech giants’ grip on the global economic infrastructure.


The panel will discuss:


What does the future of finance look like if big tech were to infiltrate traditional financial services and “DeFi” evolves?
Could big tech be the next wave of neobanks?
How can big tech be an ally and not a rival?
How should regulatory bodies and governments define boundaries, provide leadership and keep financial systems safe?
How should traditional financial services firms partner with fintech companies to succeed?


Moderated by Aryn Braun, West Coast correspondent, The Economist


H.E. Khalid Humaidan ,Chief Executive, Bahrain Economic Development Board
Mitchell Lee, Chief Risk and Compliance Officer (CRCO), Synctera
Bis Chatterjee, Managing Director, Global Head of Partnerships & Innovation, Citi Treasury and Trade solutions
Yolla Kairouz, Executive Director, J.P. Morgan Private Bank