Banks have been warily watching Inc. for signs it would threaten their world. The tech giant’s latest move looks more like an opportunity -- at least for one of them.

A proposal to start offering a product similar to checking accounts is “for now not showing any signs of disrupting the industry,” Brian Foran, an analyst at Autonomous Research, said in a note to clients Monday. “While the ‘Amazon effect’ has dictated trading in several sectors, for banks it seems a much tamer story.”

Amazon is in talks with JPMorgan Chase & Co. and Capital One Financial Corp. about the product, people familiar with the matter said Monday. The targets are millennial consumers, the people said, asking not to be identified because the discussions are private. The strategy could help Amazon lower fees it pays to financial firms and give it a bigger window into customers’ income and spending habits. 

The offering, if it comes to fruition, would be yet another link in Amazon’s extensive web of ways to touch every aspect of people’s lives, from food shopping at Whole Foods, to reading or listening to books, to streaming music and videos. After upending other retail businesses including groceries and health care, banks have long feared they might be next.

Read more in Bloomberg.