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Google signs up partners for its digital banking platform
August 04, 2020
Google is increasing its plans to offer virtual banking services in the U.S. The organisation introduced nowadays it’s partnering with 1/2 a dozen more banks to provide digital checking and savings debts to Google Pay customers within the U.S., starting next year.
The new partners consist of Bank Mobile, BBVA USA, BMO Harris, Coastal Community Bank, First Independence Bank and SEFCU. They join Google’s present partners Citi and SFCU, introduced earlier, for a complete of now eight banks lined up for the assignment.
Google will offer the client-facing front-stop to the digital banking offerings it makes to be had, while the debts themselves could be held via the FDIC-subsidized associate institutions. However, not like with mobile banking startups, which generally tend to be aware their banking partners only in the best print, Google is giving the banks a co-branded experience.