The interest being shown by data-centric companies like Amazon and Apple in the financial services market may wane if economic downturn drives them back to their core business, a leading trade advisory body has suggested.
The Trade Advisory Network, a specialist consulting firm specialising in trade and supply chain finance, said that holders of mass data, such as the major web commerce players, have been looking to disrupt the established supply chain finance market at the expense of the traditional banking sector.
Those controlling mass transactional data between the buyers and sellers, it said, are using their platforms to advance the settlement of a payable or receivable, all at the click of a button and without the application processes and controls that a bank will undertake with an applicant.
