Amazon: The Online Bookstore Does FinTech
December 1, 2021
Several years ago, I did a series of reports about Amazon’s push into a data marketplace. That technology is chugging along, but it appeals to the back office crowd. “Goldman Sachs Unveils Amazon Backed Cloud Service for Wall Street Trading Firms” makes clear that the back office is an important part of the Bezos bulldozer’s post-Jeff itinerary. Instead of teaming with US government agencies, the online bookstore has connected with everyone’s favorite financial institution to create a fintech cloud.
The write up reports:
The bank is opening up access to its trove of market data and software tools to hedge funds and asset managers in an offering designed with Amazon’s cloud division.
Like other Amazon back office services, many Amazon watchers will yawn. The excite swirls around Black Friday deals and Amazon’s alleged manipulation of its product search results.
How long has the online bookstore been working with the estimable Wall Street eminence? The answer is more than a decade.
Worth watching because the back office in the world of finance is possibly more lucrative than selling Amazon Basics T shirts.
Stephen E Arnold, December xx, 2021
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