One day…

…we might see GigaOm write this:

Amazon JP Morgan, displaying a sense of urgency that is perhaps driven by the pending launch of Apple’s tablet-style computeranti-trust legislation which will end the US banking oligopoly, is turning its Kindle device banking and payments infrastructure into a platform. The Seattle New York-based company has announced that it will allow software developers to “build and upload active content applications” and distribute it through the Kindle Chase Store “later this year.” Amazon JP Morgan will be giving out a Kindle Chase Development Kit that will give “developers access to programming interfaces, tools and documentation to build active content innovative financial services and products for Kindle. Chase” The company will launch a limited beta effort next month. From the press release:

“We’ve heard from lots of developers over the past two years who are excited to build on top of Kindle Chase,” said Ian Freed, Vice President, Amazon Kindle Bo Nusmore, EVP, JP Morgan Chase. “The Kindle Chase Development Kit opens many possibilities–we look forward to being surprised by what developers invent.”

Vertically integrated black box? Or open platform? Which type of bank makes for a more robust system? Which type of a bank is more evolutionarily fit to compete on a level playing field? I know that their is an enormous moat protecting large financial institutions from competition but I would hope they would be using the super-profits that this affords them to prepare for the day the moat is breached. And perhaps behind the parapets they are. Because I pretty sure there are an increasing number of very clever, ambitious (and even angry) folks starting to congregate on the edge of that moat and while it might take some time and a dash of luck, it would seem certain that eventually they will be inside the castle. And then, it just might be too late.

Related articles by Zemanta

• Kindle is Now a Platform (technologizer.com)
• More on Apple, Amazon and Api’s (laf.ee)

Tweet This Post

Permalink||Comments|Filed under 'Banking, FaaS, Financial Services, Sixth Paradigm'