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Google wants to be your new bank



Google promises not to sell financial information to account holders. Instead, it aims to add value to customers, stores and banks themselves with services such as loyalty programs. In a chat with the Wall Street Journal Caesar Sengupta also advertised it as a way to further digitalize the banking world. "If we can help more people do more things digitally … it's good for the internet and useful for us," he said.

Whether employees see it the same way is another story. Bank accounts include extremely sensitive information at its core, and governments will want assurances that Google is not feeding on this data, exposing them to security risks or misusing them to maintain its dominance on the Internet. Rivals like Facebook are already in control of their financial plans ̵

1; Google may face more of the same. Combine that with ongoing antitrust investigations, and Google may have to go out of its way to prove that its checks will help more than harm.


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