Mexican fintech Kueski announced a partnership with Amazon to offer BNPL on its marketplace, a first for the retail giant in Mexico.
Amazon has partnered with Synchrony Financial in order to launch the Amazon Credit Builder which targets customers who have no...
Amazon is currently in the early stages of building a new checkout terminal for coffee shops, fast-food restaurants and other...
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
The main driver of today's entry is the news -- which has largely percolated -- that ConsenSys acquired Quorum from J.P. Morgan, as well as received an investment from the bank in the company. There is a lot of jargon in the blockchain industry, and I want to try to pull this news apart to explain why it is interesting both to incumbent financial services players, as well as meaningful to the developing decentralized finance industry.
Banks have started to come to terms with the importance of the cloud and what it means to their business;...
BBVA has announced a partnership with Amazon; the partnership is first focused on selling physical products but it’s clear that...
JP Morgan just shut down its neobank competitor Finn, targeted at Millennials in a smartphone app wrapper. Several other traditional banking incumbents have similar efforts, from Wells Fargo's Greenhouse, Citizens Bank's Citizens Access, MUFG's PurePoint and Midwest BankCentre's Rising Bank, as well as most of the Europeans (e.g., RBS competition to Starling called Mettle). These banks have every advantage -- from product infrastructure, to balance sheet, to regulatory licenses, to physical footprint, to relationships with the older generation. So how is it that players like Chime, MoneyLion, Revolut, and N26 are all able to get millions of happy users and the incumbents are failing?
Amazon has been in the lending business since 2011; after growing quite significantly from 2015 to 2016 they have more...
Maria Renz spent more than 20 years at Amazon and is now joining SoFi; Renz was most recently vice president...