There was a time when banks were the undisputed gatekeepers of the financial system. Today, the real powerhouses are firms that neither hold banking licences, nor sit under direct regulatory scrutiny, and yet handle everything from your payments to credit, including personal data.Call them FinTechs or platforms, but at the top of the pile sit the BigTechs. Apple, Amazon, Microsoft, Meta, Alibaba, and others like them have made financial services a seamless, often invisible part of their digital ecosystems. They have not merely broken into finance; they have absorbed it.
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