Bank CEOs Can't Agree on How Scared They Should Be of Amazon
- Tech titans have an edge with consumers, bank leaders concede
- But Wells Fargo’s Sloan sees opportunities for partnerships
How Jeff Bezos Became the King of E-Commerce
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Amazon.com Inc.’s been plowing into industry after industry, and executives atop some of the biggest U.S. banks are hoping finance won’t be the next target for disruption.
The tech juggernaut and others like it would have several advantages if they decide to edge into financial services, including strong funding and familiarity with their users, said Andy Cecere, chief executive officer of U.S. Bancorp, the nation’s fifth-biggest commercial bank.