• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Experts laud Google’s decision to offer banking services 

Joseph Olaoluwa by Joseph Olaoluwa
November 20, 2019
in Business News, Tech News
Google, Google updates user tools after probe against privacy rights, Experts laud Google’s decision to offer banking services , Google sacks workers over data violations on security policies , All Tech Companies eventually became Fintechs- Google to launch new debit card, Google signs in to Theta (blockchain) to transform the global digital economy

Google's CEO, Sundar Pichai.

Share on FacebookShare on TwitterShare on Linkedin

Experts have lauded Google‘s decision to offer checking accounts by next year, noting that the service could assist Deposit Money Banks (DMBs) looking to attract more deposits from the general public, as reported by New Telegraph.

Why this matters: According to Bloomberg, the banking industry in the US has been recording slow growth in deposits. However, financial experts like Betsy Graseck of Morgan Stanley described Google’s efforts as a good business decision capable of delivering great value to corporate customers.

Slowing growth: The deposit growth in the United States has not been friendly, especially for U.S Banks which recorded a 2.2% decline last year. Their major competitors are digital-only banks which offer better interest rates to customers in order to guarantee their savings.

RelatedStories

Google BOLD internship program opens applications for 2025 

Google rolls out ‘Manage Subscriptions’ feature to help Gmail users globally declutter their inboxes 

July 8, 2025
Google rolls out Veo 2 AI video generator for Gemini Advanced subscribers globally  

EU publishers file antitrust complaint against Google as AI overview threatens revenue 

July 4, 2025
Experts laud Google’s decision to offer banking services 
Betsy Graseck

Aware of the ongoing trend, Citigroup reorganized its operations and went on to launch a national digital bank for the purpose of attracting more consumer deposits. It also went in search of the mastermind of this successful process, Anand Selva to head the new digital bank.

Anand Selva has quite a reputation. He was poached from Citigroup’s operations in Asia where he orchestrated partnerships with consumer companies including Paytm, India’s largest payments platform, and Grab, the ride-hailing app in Southeast Asia.

[READ MORE: Google set to extend footprints with acquisition of smartwatch company, Fitbit]

His experience in Asia is currently needed at the new digital bank. Citigroup is harping on Selva to deliver following its new partnership with Google to deliver this new banking feature.

In an attempt to examine how banks will utilise Google’s new offerings, Graseck is of the opinion that Alphabet Inc.’s Google will be utilised in taking on new customers.

“Kind of like how airlines act as an account acquisition tool for credit cards,” Graseck said.

“This is not attaching your current checking account to Google Pay. It must be a new checking account,” she added.

However, Graseck noted that several customers were confident in Google’s decision to bank with them.

Google wants to start banking with you

It can be recalled that Google expressed intentions to provide financial solutions to its customers by offering checking accounts by 2020. It also disclosed that a partnership deal had been struck with Citigroup and a credit union at Stanford University to make it work.


Follow us for Breaking News and Market Intelligence.
Tags: Anand SelvaBetsy GraseckCitigroupGoogleGoogle Pay
Joseph Olaoluwa

Joseph Olaoluwa

Reincarnated as a lover of stocks, Angel investors, seed funds, and anything aligned to tech or startups raising money, Joseph's work at Nairametrics involves following the money to wherever it leads. Before joining Nairametrics, he won an investigative journalism fellowship with ICIR, appeared in several national dallies, with hard-hitting opinions, features and investigative pieces. He has also engaged in content marketing and copywriting for a top e-commerce firm in Nigeria.

Related Posts

Google BOLD internship program opens applications for 2025 
Sectors

Google rolls out ‘Manage Subscriptions’ feature to help Gmail users globally declutter their inboxes 

July 8, 2025
Google rolls out Veo 2 AI video generator for Gemini Advanced subscribers globally  
Sectors

EU publishers file antitrust complaint against Google as AI overview threatens revenue 

July 4, 2025
Google BOLD internship program opens applications for 2025 
Sectors

Google to shut down Android Instant Apps by December 2025 due to low usage 

June 13, 2025
New AI tool could cut cost of brain tumor diagnosis for millions in Nigeria 
Sectors

Google, Meta push for AI sovereignty at Africa Soft Power Summit 2025

June 2, 2025
Google
Sectors

Google rolls out AI Max globally, targets African businesses 

May 7, 2025
Google BOLD internship program opens applications for 2025 
Education

Google opens applications for Software Engineering Apprenticeship in Paris 

April 29, 2025
Next Post
To protect margins, Nigeria’s top brewers are set to increase prices , Nigerian Breweries, Economy: Local corporates taking advantage of the low yield environment , Nigerian Breweries goes to the retail lab, Analysis: Nigeria Breweries, the glory days are gone

Nigerian Breweries: Lower profit estimates on higher Opex; HOLD rating retained

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Samsung unveils Galaxy Z Fold7 | Flip 7 | Flip 7R, raising the bar for smartphones 
  • Why companies scramble to offer Commercial Papers in H1 2025 – Optimus MD, Ayodeji Ebo 
  • Naira strengthens to N1,550/$ in parallel market; here’s why it’s gaining 

Follow us on social media:

Recent News

Samsung unveils Galaxy Z Fold7 | Flip 7 | Flip 7R, raising the bar for smartphones 

Samsung unveils Galaxy Z Fold7 | Flip 7 | Flip 7R, raising the bar for smartphones 

July 12, 2025
Ayodeji Ebo

Why companies scramble to offer Commercial Papers in H1 2025 – Optimus MD, Ayodeji Ebo 

July 12, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics