Amazon and JPMorgan Chase: Americans’ Friend or Foe?

By Lilah Koski via

We know from our Koski Research Future of Money Study that American consumers are looking for more integration in their financial lives. When news circulated earlier this year that Amazon was in talks with JPMorgan Chase and other financial institutions to offer checking accounts or checking-like services to Amazon customers, we wanted to know how Americans felt about America’s largest bank and America’s largest retailer linking up.  Do Americans want financial integration to extend to linking their bank accounts directly to where they purchase goods online?

Americans are positive on Amazon banking services

Almost two-thirds (63%) of American adults in our Future of Money survey say that their financial information would be used by Amazon to improve their financial well-being (vs. 37% who say it would be used by Amazon to drive greater business to Amazon).

The majority of Americans are generally positive about sharing more information with Amazon

When it comes to privacy and security for sharing financial information, the majority of Americans are also generally positive, though younger generations less so.  Two-thirds (66%) of Americans say that they are comfortable with Amazon having more information about them (vs. 34% who say Amazon would have more information than they are comfortable with).

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