A new article in Ignites discusses Amazon’s new data management service for asset managers and quotes Corporate Insight analyst Justin Mattos:
Large technology firms tend to take small steps into industries that are new to them by building out offerings tied to their existing areas of expertise, says Justin Mattos, senior analyst at Corporate Insight. For example, Apple and Google integrated retail products into their digital wallets Apple Card and Google Plex, respectively, he notes.
For the FinSpace platform, Amazon is building off its AWS platform to offer a new data management solution, he adds. Amazon Web Services provides on-demand cloud computing platforms to firms across industries.
“I think the worry isn’t that big tech is going to launch comprehensive approaches to areas of financial services,” Mattos says. “Instead, they’re going to gradually encroach with small expansions to what they offer that integrates with their existing offerings and slowly build up to something more threatening.”
Read the full Ignites article here (subscription required).
