Editing Amazon.com, Inc.
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=== Amazon lending === | === Amazon lending === | ||
Amazon | Complementary to Amazon lending there are plans to further enhance the lending busieness in a partnership with Goldman Sachs. Frankly the lending operations of Amazon, started back in 2016, but have not been very popular, though were increasing over the years. As of December 2022, Amazon has over USD863m of outstanding loans on its books, where the interests are chanrged anywhere between 6% and 17% on the outstanding balance. | ||
The possibility of such a venture became possible after the “Open Banking” rule (new set of EU banking rules in power since 2019), which allows banks to share financial information such as the credit history with tech companies. Until now, although Amazon has lots of information about the clients, it does not have any access to the credit history of clients, making it hard for Amazon to properly analyse the credit risk. This partneship will clearly reduce this gap and will help Amazon to reach another high. | |||
The impact of such a venture for SMEs is favourable. The reason is that the market has already seen instances when e-commerce platforms partnered with financial services platforms to provide access to capital to SMEs. Increased competition is likely to enhance the services for small sellers. | |||
== Team<ref>https://ir.aboutamazon.com/officers-and-directors/default.aspx</ref> == | == Team<ref>https://ir.aboutamazon.com/officers-and-directors/default.aspx</ref> == |