Google will offer a full suite of mobile banking services through new partnerships announced today with eight US-based banks; this will be offered through Google Pay with customers able to access checking accounts handled digitally on the front end by Google while partner banks handle the infrastructure, FDIC insurance, and other backend technology; the eight partner banks Google will be working with are: BBVA USA, Citi, Stanford Federal Credit Union, BankMobile, BMO Harris, Coastal Community Bank, First Independence Bank and SEFCU; earlier this year Google had announced a partnership with both Citi and Stanford Federal Credit Union, so this extends Google’s offering significantly. The Verge.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.