Source: Business Insider
Goldman Sachs is in talks with Amazon about providing small-business loans to merchants who sell products on Amazon’s retail platform, according to a person with knowledge of them. The talks were first reported by the Financial Times on Monday. The partnership would be the second inked by Goldman with a large technology firm that can provide the scale and distribution for Goldman’s products that it can’t get itself. The partnership, and another one with Apple, is an example of banking-as-a-service, though some insiders have taken to calling it Goldman Sachs-as-a-service. “If Goldman can pull off an embedded banking deal somewhere else besides Apple Pay … that’s a leading indicator of a fundamental change in retail banking,” according to independent consultant Richard Crone. Click here for more BI Prime content . Goldman Sachs is close to inking a second high-profile deal to offer banking services in partnership with a large tech company, and it’s a sign of what may be a fundamental change in retail banking.