Amazon Checking-Account Threat Puts Regional Banks on Defensive
- Banks seek fintech acquisitions in payments, wealth management
- First-quarter trends also include capital-markets growth
This article is for subscribers only.
America’s regional banks are preparing to defend their turf.
Amazon.com Inc., already a lender to small businesses, is now in early discussions to create a product for retail customers similar to checking accounts. The tech giant’s ambitions could prove especially challenging for regional lenders, which rely more heavily than larger Wall Street firms on providing basic banking services to consumers.