Google to partner with banks and offer checking accounts from 2020

As per a report from the Wall Street Journal, starting next year, Alphabet Inc’s Google will offer checking accounts to customers as it increases it footprint in finance.

According to the report, the project, named Cache, will have accounts by Citigroup Inc and a credit union at Stanford University.

“Our approach is going to be to partner deeply with banks and the financial system,” said Caesar Sengupta, general manager and vice-president of payments at Google. He went on to add, “It may be the slightly longer path, but it’s more sustainable”.

Google did not immediately respond to requests for comments.

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