Google Checking Accounts in 2020
Google, the 800-pound gorilla in everything they do, has just announced earlier this week, its plans to start offering checking accounts to its customers in 2020.
Titled Google Cache, the service is a collaboration between Google and a select few banks and credit unions.
Citigroup and Stanford Federal Credit Union have already been confirmed as partners in the new venture, with more announcements to come in the coming days and weeks, prior to launch.
Google is looking to integrate Google Pay with the new platform, enhancing its services, and posing a serious risk to national banks which until now have never faced such a threat.
Users can expect a host of useful “tools” such as a budgeting tool and various enhancements, like “smart insights” to be available to them.
Seems like the new age of banking is now imminent given the recent news of online giants entering this space.
Facebook launching Facebook Pay and Google with its Google Cache Project being announced all in the same week, surely points towards how ripe this market is for disruption.
We at Orumfy, being a true FinTech oriented company, on the other hand, are very excited at the bevy of improvements and enhanced features such innovators will bring to our clients and the world.
Bill Gates said it back in the 90’s “The World Needs Banking, But We Do Not Need Banks” and it certainly seems like a prophecy this week.
NewsRoom @ Orumfy