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Amazon.com, Inc.
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=== Amazon lending === Amazon, which began its lending operations in 2016, is considering a partnership with Goldman Sachs to expand this facet of its business. As of December 2022, Amazon had over USD 863 million in outstanding loans, with interest rates levied between 6% and 17% on the remaining balance. This potential collaboration is enabled by the "Open Banking" regulation, a set of rules implemented by the European Union in 2019. The regulation permits financial institutions to share critical financial information, such as credit histories, with technology companies. Amazon, despite having abundant customer data, does not possess direct access to clients' credit histories. This information is crucial in assessing credit risk and lending viability. A partnership with Goldman Sachs would fill this gap by providing Amazon access to this important data, potentially enhancing its lending operations. It's important to note that previous instances have shown e-commerce platforms collaborating with financial service providers to offer capital to SMEs. However, the actual impact of this proposed venture on small and medium-sized businesses would depend on various factors including competition and market conditions, and thus cannot be precisely predicted at this point.
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