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This article is horseshit. Just because some random sees google/amazon disrupting other industries doesn't mean they'll disrupt banking too. Not saying it could
by jwheeler79 13y ago
This article is horseshit. Just because some random sees google/amazon disrupting other industries doesn't mean they'll disrupt banking too. Not saying it couldn't happen ever, but it has the same basis as saying google is going to disrupt the railroad industry or the carpet and flooring industry. There aren't any particularly strong signs that point to amazon wanting to service your mortgage anytime soon.
- hershel 13y agoOne interesting sign(regarding commercial banking) is that amazon has started offering loans to some businesses who sell using it's platform , and is able to offer better terms using sales data they've got.
- jwheeler79 13y agoI've heard of that. PayPal also has Bill Me Later, and there are niche players like Kabbage. They're all still a ways off from full scale banking operations like JP Morgan Chase. The big banks are nearly as large as Google in Market cap individually and have trillions of dollars worth of assets on their balance sheets. My point being they are players with the resources to go up against a google in Washington, D.C. If anyone is a threat to banking, I would say it is PayPal. They have over 100M people signed up in the US alone to transfer money, but that only competes with a small aspect of bank business (service fees), the larger parts being investment banking and loan operations/net interest income