Wall Street may not have taken seriously some of the tech start-ups that are trying to chip away at their business, but now they've got a much bigger player in the online finance game: Amazon.
The online merchant on Thursday announced a partnership with Wells Fargo to provide discounted loans to Amazon Prime Student shoppers, younger consumers who have taken up the retailer on a bundle including free shipping, streaming video, cloud storage and other web products.
"We are focused on innovation and meeting our customers where they are — and increasingly that is in the digital space," John Rasmussen, head of Wells Fargo's personal lending group, said in a statement. "This is a tremendous opportunity to bring together two great brands. At Amazon and Wells Fargo, delivering exceptional customer service and helping customers are at the center of everything we do."