Why Google & Co. Are Becoming Banks

Google, Apple, Facebook and Amazon have all entered the financial sector headfirst. The answer is NO: they don’t want to make money from current accounts. Certainly the business would still be interesting, but it’s the FINANCIAL BEHAVIOR of users that is far more profitable. As it becomes increasingly difficult to profile users based on “Social” information (see privacy & gdpr), access to information about bank transactions and purchasing habits will allow for much more accurate profiling.