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Vol. 5 No. 2 (2026): October

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Big Tech and Financial Services Convergence in Platform Based Financial Ecosystems

https://doi.org/10.33050/sabda.v5i2.1158
Liza Handoko
Pelita Harapan University
https://orcid.org/0000-0003-2715-2816
Adele Valerry
iLearning Research
https://orcid.org/0009-0009-1433-1058
Laura Paige Pasha
MFinitee Institute
https://orcid.org/0009-0000-2961-7387
Tiurida Lily Anita
Bina Nusantara University
https://orcid.org/0000-0003-0167-1204

Corresponding Author(s) : Tiurida Lily Anita

tiurida.anita@binus.ac.id

Startupreneur Business Digital (SABDA Journal), Vol. 5 No. 2 (2026): October

Abstract

The accelerating integration of digital technologies into financial ecosystems has reshaped competitive dynamics, as Big Tech firms increasingly expand beyond their core markets and encroach on traditional banking domains, creating a strategic inflection point for global financial services. This study aims to analyze how the convergence of Big Tech and financial services transforms value creation, market structure, and regulatory expectations, while identifying the strategic implications for incumbent institutions. Employing a qualitative research design that synthesizes systematic literature review, comparative industry analysis, and case based evaluation of leading global Big Tech firms, the study examines technological capabilities, platform business models, and cross sector expansion strategies to uncover emerging patterns within this evolving landscape. The findings indicate that the rise of embedded finance, data driven personalization, and AI enabled risk assessment empowers Big Tech to deliver highly efficient, scalable, and user-centric financial solutions that challenge banks’ traditional advantages in trust, compliance, and capital resources. Furthermore, the results reveal that incumbents adopting collaborative platform strategies, open banking initiatives, and digital transformation frameworks exhibit stronger competitive resilience than those relying solely on conventional product based models. The study concludes that the convergence of Big Tech and financial services necessitates a strategic reorientation for banks one that emphasizes innovation partnerships, data governance enhancement, and proactive regulatory engagement to sustain relevance and competitiveness within an increasingly platform dominated financial ecosystem.

Keywords

Big Tech Financial Services Embedded Finance Digital Transformation Financial Ecosystems
Handoko, L., Valerry, A., Pasha, L. P., & Anita, T. L. (2026). Big Tech and Financial Services Convergence in Platform Based Financial Ecosystems. Startupreneur Business Digital (SABDA Journal), 5(2), 180–193. https://doi.org/10.33050/sabda.v5i2.1158
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