4 Global competition banks are facing from tech firms Ladies and gentlemen, banking services revolve around processing data, so they lend themselves to a greater or lesser degree to full digitalisation – unlike industrial products, say, or personal services. It’s hardly surprising, then, that digital firms – big and small – are also looking to enter the financial market.
Normally, the market sorts out which companies survive and which fail, and that is as it should be. However, the issues raised here extended well beyond the fate of one company. Our financial system is extremely complex and interconnected, and Bear Stearns participated extensively in a range of critical markets.