The FT is reporting that growth has slowed dramatically in recent years for Amazon’s small business lending operation; citing the company’s annual report Amazon Lending grew only 2.6% in 2018 and 4.7% in 2017; it has stopped making new loans in Japan, one of its first three markets (after the US and UK); but based on recent job ads it appears they are planning to ramp up their business lending program again; in the UK they are reportedly interested in taking advantage of open banking to help augment their own massive data trove when making underwriting decisions. Source.
Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.