Amazon banking is coming, and it could disrupt the entire financial sector. And we know exactly how to profit from it…
On Monday (March 5), The Wall Street Journal reported that Amazon.com Inc. (Nasdaq: AMZN) is in talks to develop a “checking-account-like product” for consumers.
Considering Amazon’s recent forays into healthcare, package delivery, and brick-and-mortar retail, the company’s move into finance is not surprising.
But the implications are huge.
You see, with millions of customers, $20 billion in liquid capital, and troves of customer data, Amazon has the potential to revolutionize the banking industry.
In fact, a report from management consulting giant Bain & Co. argues that Amazon banking could acquire more than 70 million banking customers in just the next five years. That’s the same amount currently serviced by financial giant Wells Fargo & Co. (NYSE: WFC).
Keith joined a panel of heavy hitters for a pre-Fed analysis of what Chairman Jerome Powell has to do next to keep markets on track. He joined Bullseye Brief Publisher Adam Johnson, Kaltbaum Capital Management President Gary Kaltbaum, Janney Chief Investment Strategist Mark Luschini, and former Reagan economic advisor Art Laffer in a wide ranging discussion covering the nature and number of rates and what that means for markets.