Google is the latest of the huge technology firms to make a move into consumer banking. According to the WSJ, the online giant will soon offer checking accounts under a project codenamed “Cache,” which partners Google with Citigroup and a credit union at Stanford University.
Google joins Amazon, Apple, Facebook and Uber, among other tech companies, to offer banking or credit services, as these companies try to push their brands deeper into our digital lives.
Google Pay is on track to have 100 million users by 2020, and adding checking account services with a global bank like Citi is a fast way to scale customers and eventually offer them other financial services like loans and mortgages.
