BigTech and FinTech
Are the strategies of the GAFAM* group, the strongest in the BigTech category, which incorporates FinTechs serving in different fields in different parts of the world and increases collaborations, a threat or an opportunity? We are experiencing very interesting times where sectors are intertwining. "Ar
Are the strategies of the GAFAM* group, the strongest in the BigTech category, which incorporates FinTechs serving in different fields in different parts of the world and increases collaborations, a threat or an opportunity? We are experiencing very interesting times where sectors are intertwining. Bankers saying "banking will now be done outside of banks", investors saying "software will eat the world", e-commerce companies trying to cover our lives 24 hours a day with a single SuperApp, and many other examples give us important clues. The message is very clear: "Forget the old sector distinctions, new sectors are emerging!" In the new era, companies have to break their focus only on their existing expertise to retain customers and create new revenue streams. Because the digital consumer wants to move faster, easier, and simpler. After introducing themselves with a single touch, they want to buy, pay, receive payments, save money... In short, they want to live with the same secure digital identity. Giant technology companies that have taken action to meet this expectation have started to take very strong and decisive steps in the field of financial technologies (FinTech) in the last 10 years. On the one hand, there are rapidly growing examples like WeChat and Alibaba in the Far East, and on the other hand, there are the five largest companies in the US technology sector, namely Google, Apple, Facebook, Amazon, and Microsoft (GAFAM), which are called "BigTech". These companies, which have made many breakthroughs in the FinTech field, are pursuing very different strategies to both differentiate themselves and create long-term new revenues. Although BigTechs