The financial industry is at a crossroads, as artificial intelligence and big data change the way institutions set strategy and provide services. In a race for control, banks and other traditional institutions are building ever-more sophisticated IT systems, while emergent tech companies find new ways to disrupt the old guard. But they are both under threat from Big Techs, with its unrivaled ability to deploy AI and customer data. More often than ever, policymakers find themselves in uncharted territory. From gains in efficiency and financial inclusion to unprecedented access to information and a wide customer base, big techs’ entry presents new and complex trade-offs between financial stability, competition, and data protection. How is the global financial system evolving at the intersection of data science, e-commerce, and finance?