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Google To Offer Checking Accounts In The Next Year
Summary: Google will make its way into the finance world next year as the company gets set to offer checking accounts, according to the Wall Street Journal. The project, known as Cache, will have its accounts operated by Citigroup Inc. and a credit union at Stanford University. Google joins tech giants like Microsoft, Apple and Facebook ...
Google will make its way into the finance world next year as the company gets set to offer checking accounts, according to the Wall Street Journal.
The project, known as Cache, will have its accounts operated by Citigroup Inc. and a credit union at Stanford University.
Google joins tech giants like Microsoft, Apple and Facebook who have all made a foray into financial services. Big Tech companies are using financial services to get closer to users and gain more important data. Google isn’t the only company interested in offering checking accounts as Amazon.com Inc. has talked to banks about offering as well.
The ambitious tech companies are striking fear in financial-service firms. The incumbent firms are worried that these popular tech companies could steal clients and takeover the industry. Government regulators have already taken an interest and begun investigating whether large tech companies have too much influence.
By Ramsey Baker
Tags: Amazon,Apple,big tech,Cache,checking accounts,Google,tech giants
Link: Google To Offer Checking Accounts In The Next Year [Copy]
