Mobile payments have been incredibly successful tools of financial inclusion in developing countries, with M-PESA in Kenya being a shining example. But these solutions have lagged behind in countries with developed financial systems.

Yet, even in developed economies, large swathes of people lack access to banking facilities. In the US, about 30% of the population is underbanked.

In January 2018, Amazon partnered with Berkshire Hathaway and JP Morgan Chase to provide their employees with simpler, better, more affordable healthcare. We could almost see Amazon combine its superior consumer analytics with open banking data to take a further leap, this time into tailored checking accounts.

Indeed, this could be just the start. Their product could eventually extend into budgeting, retirement planning, insurance and more.


Collective Action: Up close

The future will be determined by those who are willing to reinvest, adapt and turn future threats into opportunities.