Is the Market Ready for an Amazon Bank?
As there appears to be significant interest among young adults for disruptive banking products, an Amazon (AMZN) checking account product could strike the right chord with many consumers. Amazon is reportedly exploring a checking account product that would appeal to young people as well as those without traditional bank accounts. If Alphabet’s (GOOGL) Google, Microsoft (MSFT), or Facebook (FB) try to challenge Amazon with a banking service of their own, Bain says Amazon would likely win.