Competition in banking has expanded in the past twenty years, yet banking and technology giants are increasingly using proprietary technology and data-driven insights to tilt the playing field. When smaller financial firms can’t reach the scale needed to compete effectively, there is potential for economic inequality, reduced social responsiveness, and less innovation. My guest on the Banking Transformed podcast is James Bessen, lecturer at Boston University School of Law and author of the book, ‘The New Goliaths’. Jim shares his perspective that the largest firms have a major competitive advantage, and how democratizing technology, insights and innovation can level the playing field. This Episode of Banking Transformed is sponsored by FIS From super apps and crypto to embedded finance and financial inclusion, we’re a long way away from the world of cash and checks. That’s why FIS has published The Global Payments Report. The Global Payments Report makes it easy to understand what your consumerswant now – and in the future. Read about the trends transforming payments and what they mean for your business. FIS also gives you an in-depth view of how consumers pay when shopping online and at the point of sale in more than 40 markets, along with the latest insights into real-time payments trends, digital wallets, and even Crypto. Discover how the latest payments technologies could affect your business. Get your report today by visiting fisglobal.com/gpr. FIS. Advancing the way the world pays banks and invests.