, Columnist
Amazon Wants to Seed Cloud With Banks
Banks spend a lot on tech, but they're wary of outsiders.
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Banks may be out of favor with stock investors, but they're of keen interest to tech companies for one simple reason: Financial institutions and other big companies hold the future of cloud computing in their hands.
Amazon has been making the rounds to big banks including Goldman Sachs, Citigroup and JPMorgan Chase to pitch them on using its cloud-computing service, Amazon Web Services, according to a Wall Street Journal report. The hard sell to banks makes sense as 10-year-old AWS enters the next and trickiest stage of life. The road to cloud computing's future goes straight through Wall Street, and it won't be easy to navigate.