According to recent developments, Bank for International Settlements (BIS) has published its latest report for the year 2019. The report revolves around the risks and opportunities related to the entry of “big techs” into the financial space. The Bank for International Settlements (BIS) is an international financial institution with sixty central Banks as members, and a mission to serve central banks to gain financial stability and promote international cooperation.The report, “Big Tech in Finance: Opportunities and Risks” tends to explore the impacts of entry of large technology firms such as Amazon, Alibaba, Tencent, Google and Facebook into financial services. The
