In this analysis, we explore an overarching framework for the M&A activity in the fintech, big tech, and crypto ecosystems. We discuss acquihiring, horizontal and vertical consolidation, as well as the differences between growth and value oriented acquisition rationales. The core insight, however, is about the arbitrage between the fintech and financial services capital markets, as evidenced by the recent transactions for Starling and Figure.
Amazon's deal with Venmo has the potential to set a new standard for payment tenders in general, and other brands are likely to follow in its footsteps.
American Banker reports on the lobbying group called Financial Innovation Now and that some technology giants are meeting individually with government agencies; Amazon met with the OCC starting in the second quarter of 2016 and met again this year; PayPal has also met with OCC officials in several quarters last year. Source
Amazon is currently in the early stages of building a new checkout terminal for coffee shops, fast-food restaurants and other...
The Wall Street Journal took a look at the relationship that’s evolved between JPMorgan Chase CEO Jamie Dimon and Amazon...
While giving a speech the acting head of the OCC stated that banks need more competition not less; he also commented on companies like Amazon or Apple becoming banks, Noreika states; “Laws that prevent companies with resources and means from becoming competitor banks only serve to protect existing big banks from would-be rivals”; as Crowdfund Insider reports the benefits of having big tech companies become banks could help to lower cost, increase access and help to serve those who might be left behind by traditional banks. Source.
At the end of September, Lendistry reached the one-year mark running the Amazon Community Lending program.
Amazon will now allow customers to add cash to their Amazon accounts through barcode scans at participating retailers throughout the US; funds will be immediately available for use; the firm says the initiative is expected to target underbanked customers; Morgan Stanley says the announcement could decrease the chances of the firm partnering with PayPal for payments which is a deal the market has been potentially anticipating between the two companies. Source
Even though it does have a lending operation Amazon did not take part in the Paycheck Protection Program directly; but...
Much has been written about Amazon’s foray into financial services; a new survey shows that 3 in 10 consumers say...