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.
Big tech won’t be your next bank — but they’ll play a part in many of your transactions.
After nearly a decade of big tech companies venturing into launching their own financial products, the major players have now pulled back. Most have shifted to roles as tech providers, broadly supporting advances in financial infrastructure.
Amazon and Google stand out in this area:
- Amazon is embedding itself in more financial transactions via partnerships, investments, and acquisitions. It’s using these relationships to reach customers across more geographies and a wider range of services.
- Google has shifted away from providing financial services and instead is connecting its existing platforms to others’ financial offerings. The company is also investing and partnering to enable digital-first financial tools.
We mined CB Insights data on Amazon’s and Google’s investments, acquisitions, and partnerships, as well as patents and earnings transcripts, from January 2021 to July 2024 to explore how the companies are reengineering their fintech strategies.
Download the full report to see where they are making moves.
This report uses CB Insights datasets like investments, acquisitions, business relationships, earnings call insights, patents, and more. Learn more about our data here.
