Amazon Bank: Will banking’s worst nightmare come true in 2018?

Rumors have been swirling that an Amazon Bank may be imminent. Will banking be the next industry to feel the 'Amazon Effect'?

It seems like there’s nothing Amazon can’t do these days. They’ve moved into the cloud with web storage and computing services. They’ve launched music and video streaming services. And they’ve even taken on old-fashioned brick-and-mortar retailing.

In June 2017, Amazon announced they were buying upscale grocer Whole Foods. According to reports, they are also looking at getting into the pharmaceutical and home furnishing industries as well.

This has many wondering if Amazon’s appetite knows no bounds. Is there anything they aren’t planning on taking over, including banking?

Probably not.


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