Insider Intelligence delivers leading-edge research to clients in a variety of forms, including full-length reports and data visualizations to equip you with actionable takeaways for better business decisions.
In-depth analysis, benchmarks and shorter spotlights on digital trends.
Learn More
Interactive projections with 10k+ metrics on market trends, & consumer behavior.
Learn More
Proprietary data and over 3,000 third-party sources about the most important topics.
Learn More
Industry KPIs
Industry benchmarks for the most important KPIs in digital marketing, advertising, retail and ecommerce.
Learn More
Client-only email newsletters with analysis and takeaways from the daily news.
Learn More
Analyst Access Program
Exclusive time with the thought leaders who craft our research.
Learn More

About Insider Intelligence

Our goal at Insider Intelligence is to unlock digital opportunities for our clients with the world’s most trusted forecasts, analysis, and benchmarks. Spanning five core coverage areas and dozens of industries, our research on digital transformation is exhaustive.
Our Story
Learn more about our mission and how Insider Intelligence came to be.
Learn More
Rigorous proprietary data vetting strips biases and produces superior insights.
Learn More
Our People
Take a look into our corporate culture and view our open roles.
Join the Team
Contact Us
Speak to a member of our team to learn more about Insider Intelligence.
Contact Us
See our latest press releases, news articles or download our press kit.
Learn More
Advertising & Sponsorship Opportunities
Reach an engaged audience of decision-makers.
Learn More
Browse our upcoming and past webinars and other events.
Learn More
Tune in to eMarketer's daily, weekly, and monthly podcasts.
Learn More

Global outage further undermines Facebook’s fintech ambitions

Our analysis: Facebook-owned platforms’ global outage last week hinders its plans to launch fintech services.

How we got here: The outage—which lasted more than 6 hours across Facebook, WhatsApp, and Instagram—left 3.5 billion global users and businesses disconnected.

  • In its wake, some influencers and small businesses lost as much as $5,000 in sales, and plan to reduce their reliance on Facebook’s platforms to advertise and sell products going forward.
  • The outage was badly timed for and may have a lasting impact on Facebook’s plans to facilitate its users’ access to financial services.
  • These plans include its August 2020 launch of F2, a new division to oversee all its payments projects, like the stablecoin Diem. And this July, it made Facebook Pay available on third-party platforms, starting with Shopify.

The impact: The latest global outage exacerbates two of Facebook’s challenges: its tarnished reputation and regulatory pressures.

  • Reputation. US households trust banks far more than Big Tech for handling their personal data, per a Bank for International Settlements survey from June. The controversies surrounding leaks and testimony from former product-manager-turned-whistleblower Frances Haugen, combined with the recent outage, will only widen this trust gap. This is particularly problematic for Facebook’s fintech solutions—financial data is exceptionally sensitive.
  • Regulation. The outage revealed that all Facebook products run on a single system. Regulators may find this particularly troublesome, since more than 200 million businesses use Facebook platforms for their operations. This summer, the US House antitrust subcommittee introduced five bills aimed at curtailing Big Tech’s dominance. The latest outage may encourage further regulatory restrictions to mitigate greater financial risk.

Bottom line: In recent years, it’s become conventional wisdom that Big Techs will fundamentally disrupt finance and market players. Capgemini found a growing share of consumers would be willing to access insurance and wealth management services from such platforms, for example.

But the Facebook outage underscores that, for the time being, it still lacks the infrastructure, regulatory oversight, and even sufficient know-how to fully take on banks and fintechs at their own game. This also may be the case for its peers, as seen with Google recently axing its Plex bank accounts.