This IDC Market Perspective examines the announcement of a potential collaboration between Amazon and Chase bank that has spurred a tremendous amount of speculation regarding the future delivery of financial services and payments. Given Amazon's resources and history of disrupting industries, the speculation is warranted. What makes a partnership between Amazon and Chase particularly compelling is Chase's payment capabilities and ability to handle connect transactions from end to end.
"The entry of large technology companies into financial services, companies that provide an ecosystem within which they can offer a variety of services, offers an interesting model for how banking and payments may soon be delivered," said James Wester, research director, Global Payments at IDC. "This partnership could be the shape of things to come."