The Digital Banking Club Live Debate was held on Wednesday 21st March at the Law Society, London.
The topic for this debate was: “This house believes your next bank will be a GAFA (Google, Apple, Facebook or Amazon)”
The discussion points included:
- Could we ever see a GAFA applying for a Banking Licence?
- When humans are still more likely to change spouse than bank account, just how real a threat do they pose?
- Who is better positioned to leverage the opportunities of PSD2 and Open Banking – the banks or the GAFAs?
- At what point will the financial institutions fully immerse themselves in services such as Whatsapp, Amazon Alexa, Facebook Messenger and Google Maps as a channels of engagement?
- What parallels be drawn from the rise of Ant Financial and Tencent in the Far East?