When Will Amazon Launch Its Bank?

By Chris Skinner via Iris.xyz

Name the company that strikes fear into everyone’s hearts in business?

In the 1980s, it was IBM. You never get fired if you buy IBM, even though It’s a Bloody Mess.

In the 1990s, it was Microsoft. Sure, Most Intelligent Creatures Realise Our Software Only Fools Teenagers, but yes, they were taking over the planet.

In the 2000s, it was Google. Everyone searching for something and finding a platform that connected them through the Global Object-Oriented Group Language of Earth.

And in this decade, it is Amazon. Amazon, the platform with tentacles everywhere that is just Amazing Everyone, or Amazon for short.

Amazon comes up almost once a month as the beast that will break into banking, and I’ve regularly covered them on the blog as an interesting example of adjacency. They will move into any space that grows online business but not full, deposit account banking imho. The reason I feel this is what does it add to their business model? Nothing. Payments and lending for sure, as that helps merchants, but the over-regulated deposit account marketplace. Nah.

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