Google announced on Monday that it would cooperate with six U.S. banks to expand its digital banking network, Zhitong finance app learned.Starting next year, bank mobile, BBVA USA, BMO Harris, coastal community bank, first independence bank and sefcu will be able to provide digital checks and savings accounts to Google paying users in the United States.
BBVA said the partnership with companies such as Google represents the future of banking. When the financial industry and large technology companies work together for their own benefit, consumers are the real winners.
Google spokesman confirmed that the company is "working with u.s. banks and credit unions to provide digital bank accounts through google Pay to help their customers benefit from useful insights and budget tools while depositing funds into FDIC or ncua insurance accounts ."
The technology giant is also developing physical and virtual debit cards that will be co branded with financial services companies, sources said, but details have not been disclosed.