If you’re searching for a new way to bank, Google might be your answer. The tech company is considering partnering with banks to offer checking accounts to consumers as early as next year.
USA Today reports the company will be calling its new accounts, “Cache,” which will be run by Citigroup and a credit union at Stanford University, according to a Wall Street Journal report. “Our approach is going to be to partner deeply with banks and the financial system,” Caesar Sengupta, general manager and vice-president of payments at Google, told WSJ. “It may be the slightly longer path, but it’s more sustainable.”
If Google pulls this off, it will be the latest tech company to be a part of the personal financial services. Earlier this year, Apple collaborated with Goldman Sachs to launch an Apple card, a digital card that works through the iPhone “Wallet” app.
Google currently offers Google Pay and Google Wallet, so this would only add to the company’s previous business moves in banking.
