Speaking to American Banker fintech firms Chime, Moven, Kabbage and more say the move by Amazon is a net positive; most comments showed surprise that it took the retail giant this long to make a move like this; the overall sentiment was positive, pointing out that the entrance of Amazon will increase knowledge of fintech and validating their thoughts on the need for improved consumer experience in banking; the fear that Amazon would just take over is overblown, there is room for the giant retailer and a lot of fintechs who cater to a specific market. Source.
