The future is here. As discussed in Forrester’s recent research on the future of banking, success for many banks will come from powering products and distributing through others’ marketplaces. And Google is now moving ahead with its plan to launch one of those marketplaces.
Late last year, I blogged about Google’s move into banking and the firm’s partnership with Citi and Stanford Federal Credit Union. This week, we gained some additional insights into what’s being developed, as Google announced it would be partnering with six additional US banks to enable its digital banking vision to come to fruition in 2021: BankMobile, BBVA USA, BMO Harris, Coastal Community Bank, First Independence Bank, and State Employees Federal Credit Union (SEFCU).
So what exactly is happening? Will Google succeed? And which firms should be worried?
Watch the video to hear my analysis.
You can learn more about how banks can succeed in the future in our new report, “The Future Of Banking Is Built On Trust.”
And if you’d like to hear what some of the financial experts we interviewed think about the future of banking, listen to the audio insights in these two reports: