Wednesday, September 19, 2018

Banks should be worried about Amazon robbing their business — here's why

Business Insider
Amazon is likely to find some ready customers if it follows through with its reported plans to launch a banking service.

And that could be bad news for traditional retail banks.

Significant portions of consumers — including nearly two-thirds of Amazon Prime subscribers — say they would sign up for a free checking account from the e-tail giant, consulting firm Bain & Co. said in a new report. Meanwhile, consumers expressed much more loyalty to Amazon than to national or even regional banks, Bain reported.. . . more