The Bank of Amazon

What if Amazon expanded into banking?

Being an overly caffeinated engineer that lives by: deadlines, bullet points, and marketing’s unrealistic design requests, I find myself growing impatient with the 17.27 seconds necessary to make coffee from a K cup. So, imagine my frustration while waiting at the bank.

I was thinking about the delay and frustration of banks while stuck in line at a major bank (who I will not name because . . . well, because they have more attorneys then I have coffee pods at this moment.)

My frustration level was pretty high. There were four people in front of me and only one teller. What increased my frustration was the four other bank employees walking around or sitting at desks, staring at computer screens. Why couldn’t one of these four help?

That is where I came up with the idea of ‘The Bank of Amazon’. They already own the rest of the world, it seems like banking is the next step to world domination.

I am pretty sure the government would never allow it, and very sure the current banks would put up a bit of a fuss. But think of how quick and easy banking would become? Think of the positive changes for customers that occur when competition rears its head.

Here are key changes/benefits I could see:

  • Instead of customers earning 0.2% interest on their savings, they would offer 1.2% or higher.
  • Instead of homeowners paying 4.0% interest on their mortgage, they would pay 2.5%.
  • Instead of waiting in line for twenty-five minutes to ask a question, the banker would come to your house when convenient for you. Maybe incorporate their visit with grocery deliveries so they could deliver your food at the same time? Just an idea.
  • Refinancing of car and home loans would take ten minutes with no fees. In fact, Amazon would pay you to do business with them. Why does a bank charge fees when they are making several points of interest off you every month?

Amazon would be a disrupter. Why?

Simple: They make things realllllllly simple.

I mean: ‘Break it down like Barney simple’

When things are simple, cost goes down, delays disappear, and customers enjoy the experience.

I don’t own Amazon stock, so I have nothing to gain from this idea. But the longer I stand in line and watch bank employees at their computers (are they playing solitaire?), the more I like the idea of the ‘Bank of Amazon’.

FocusLCDs.com is not as big as Amazon (yet) but we have the same idea and simplicity with our character and TFT displays. Why should it be difficult to choose and design in a LCD for a new design?