“Can AWS serve as the sovereign infrastructure layer for the entire embedded finance ecosystem while simultaneously running its own embedded financial products for its marketplace and seller network?”
AWS began as Amazon's internal cloud infrastructure, spun out as a public service in 2006, and has grown to become the dominant hyperscale cloud provider globally. The embedded finance angle for AWS is primarily as infrastructure-under-the-infrastructure: virtually every major embedded finance vendor (Stripe, Marqeta, Plaid, Yapily, etc.) runs on AWS. AWS itself also operates Amazon Lending, a marketplace lending program for third-party sellers that channels capital through third-party lenders including Intuit QuickBooks Capital. AWS Marketplace has evolved into a distribution channel for embedded finance SaaS products.