Bain & Company predicts big things for Amazon Bank

With rumours circulating that Amazon is set to take the plunge into banking, the e-commerce giant’s financial services division could grow to more than 70 million US consumer relationships over the next five years or so, the same as Wells Fargo, the third largest bank Stateside.

That’s according to Bain & Company, which is basing its estimate on slightly more than half of Amazon’s estimated US customer base choosing a financial relationship with the firm; “the same share of people who said in our new global survey that they expect to buy a financial product from a major technology firm over the next five years. Of course, the pace of customer sign-up will hinge on competitive pricing and a distinctive experience so that positive reviews spread quickly.”

Further details here.