Amazon

So, if you might have thought Amazon would stop expanding after it bought Whole Foods.............forget about it. Amazon is just getting warmed up. Ernst & Young's fintech leader (James Lloyd) predicts, and expects, Amazon to expand more into lending, credit scoring, payments and just plain become dominant. Like China's ANT Financial. Hmmmm!, know of any big banks for sale? Such a big world, so little time.

(Bill Taylor/CEO)

"Amazon is the tech giant most likely to become a dominant player in fintech, predicted James Lloyd, Ernst & Young’s fintech lead, when speaking on stage at TechCrunch and TechNode’s event in Shenzhen, China on Monday.

Lloyd told TechCrunch that he expects Amazon to expand further into payments, lending and credit scoring. “They’ll get into everything that facilitates their ecosystem,” he said. Lloyd sees parallels between Amazon and Ant Financial (formerly Alipay), an affiliate of Alibaba.

Amazon recently announced that it has lent out $1 billion in small loans in the past year. Lloyd anticipates that it’ll double down on this space. “They have a huge amount of data that they could leverage to figure out how much you might need for the next three months for inventory”...

Source: TechCrunch