First off, ignore the hype and the excitement of the consumer press: we are not yet witnessing the birth of the Bank of Amazon.

The Chase/Amazon talks are no great secret and are reportedly at an early stage.

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It is also no great secret that Amazon has been talking with other banks in addition to Chase.

Amazon is no stranger to financial services in general and Chase in particular. Chase has issued Amazon-branded credit cards for more than a decade. It is only a few weeks ago that Chase, Amazon and Berkshire Hathaway teamed up to discuss how they might work together to meet health care costs for their employees.

Amazon is also targeting loans to SMEs via its Marketplace platform.

Amazon wants to increase its customer numbers and membership of Prime.

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Amazon will not want the hassle of dealing with the Federal Deposit Insurance Corporation and other regulators.

The news that Amazon and Chase might white label a current account is a great story but is not evidence that Amazon is set to launch its own retail bank.

Three predictions seem reasonably safe: Amazon will enjoy greater success with this initiative than it has had with getting Amazon Pay off to a major success with merchants.

And Amazon will have greater success in growing its banking ambitions than other retailers, such as Walmart.

Lastly, there will be a queue of interested lenders in markets outside the US such as Canada, the UK and across Europe keen to get into bed with Amazon.

But as for the notion that this is the start of Bank of Amazon, the writer remains unconvinced.