Amazon has plans to offer financial services to their customers but so far has focused on providing credit to small...
Amazon launched a credit card product in Brazil in an effort to compete with Mercado Libre and ramp up its fintech strategy in South America.
A new report by the Financial Stability Board (FSB) says big tech firms could reach scale very quickly in financial...
Over the years Amazon has received lots of scrutiny from the public; however one area that is often overlooked is...
While Amazon is unlikely to buy a bank in 2018, they are still a threat to banks and other fintech companies; the company is already involved in payments, cash, debit cards, small business lending and consumer credit; Tearsheet shares how retail and financial services companies are becoming more intertwined and how this is a trend that will continue into 2018; the way consumers interact across various apps and accounts is also having a significant effect on banks. Source
UBS has partnered with Amazon to utilize Amazon's Alexa artificial intelligence (AI) for a pilot program with wealth management clients in the UK; Alexa will provide answers on inquiries about wealth management topics and the economy for clients through several devices; the partnership follows a trend toward use of artificial intelligence in the wealth management industry and a deal by UBS with robo adviser SigFig for account services; Alexa's AI capabilities offer a cost efficient way to provide information and standardized advice for wealth management clients. Source
Amazon recently closed its marketplace in China but is still working on other businesses in the region; they are now...
Amazon's palm reader is having an impact on the fortune teller industry
Goldman Sachs is looking for inspiration from the big tech companies rather than big banks as it considers where to...
If you are in finance and only looking at banks, you are missing out on the real change agents. Here's some cross-industry action that we will unpack this week.
Amazon selected Goldman Sachs to be the lender of choice for small business loans. TikTok maker ByteDance is working with a Singaporean business family to get a financial license. And small business bank Starling is integrating Slack, energy switching service Bionic, and health insurance provider Equipsme into their marketplace. And we might as well talk about the Plaid Exchange launch, and end on the computational economy of Ethereum.