CBInsights has released an extensive update focused on the role of “Big Tech in Fintech: How Amazon and Google are battling to own transactions.”

The comprehensive research report from CBInsights pointed out that while Amazon and Google have reeled in their efforts to offer their own financial services, they “continue to embed themselves in the digital financial ecosystem.”

According to the CBInsights research report, Big tech won’t “be your next bank — but they’ll play a part in many of your transactions.”

CBInsights further noted that “after nearly a decade of big tech companies venturing into launching their own financial products, the major players have now pulled back.”

The report revealed that most “have shifted to roles as tech providers, broadly supporting advances in financial infrastructure.”

More details at the link