Silicon Valley and the Big Tech that emerged from it are collectively though separately aiming to cut out the financial middle man and start doing banking in their own right to provide the payment gateways for themselves.  The move is fascinating to oberseve as the financial institutions have largely been working cooperatively to support the new moral supremacism of Silicon Valley by cutting off offenders of big tech from their bank accounts.  Now, Big Tech is thanking banks the only way they know how, by exploiting their weakness and taking over their territory.

Thanks Banks, but, we got this from here.

Big Tech’s entry into banking sounds death knell for traditional lenders