An Amazon Checking Account Could Displace $100 Billion In Bank Deposits (But It Won't) [Forbes]
Fiserv, Inc. (FISV)
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Source: Forbes
An Amazon Checking Account Could Displace $100 Billion In Bank Deposits (But It Won't) March 19, 2018 Kettleman City / CA / USA - Amazon truck driving on the interstate, the large Prime logo printed on the side Getty OBSERVATIONS FROM THE FINTECH SNARK TANK There's a lot of talk these days about the possibility and probability of Amazon getting into banking: “Amazon is under pressure to keep increasing revenue, and financial services is a large pool they can go after.” “Amazon may acquire a small or mid-size bank to test the regulatory waters and gain a footing in the industry. This may either be a tactical move or a broad strategic jump into banking, as Amazon seeks more stickiness with consumers and small businesses in consumer lending such as auto loans, credit cards and home mortgages.” “By no means will the Bank of Amazon be taking direct deposits to finance the apartment complex next door anytime soon. While Amazon [brings] capital to an underserved market, their business strate
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