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Will banking be the next industry to feel the 'Amazon Effect'?

It seems like there’s nothing Amazon can’t do these days. They’ve moved into the cloud with web storage and computing services. They’ve launched music and video streaming services. And they’ve even taken on old-fashioned brick-and-mortar retailing.
In June 2017, Amazon announced they were buying upscale grocer Whole Foods. According to reports, they are also looking at getting into the pharmaceutical and home furnishing industries as well.
This has many wondering if Amazon’s appetite knows no bounds. Is there anything they aren’t planning on taking over, including banking?
Probably not.
Asheet Mehta with the global banking practice at McKinsey, one of the world’s most respected consulting firms, explained in an interview with Business Insider that Amazon’s stock trades on the company’s future growth potential, not it’s current market value, which is why Amazon needs to continually move into adjacent markets.

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