#BigTech / Google to offer co-branded accounts with eight US banks

When launched in 2021, the co-branded, FDIC-insured digital accounts will be offered via Google Pay and built on top of the banks’ existing infrastructure… The move marks an extension of a previous deal made by Google with Citi and SFCU… The new banks coming onboard include Bank Mobile, BBVA USA, BMO Harris, Coastal Community Bank, First Independence Bank, and SEFCU.

[BBVA comments:] “Collaborations with companies like Google represent the future of banking. Consumers end up the true winners when finance and big tech work together for their benefit.”

The tech giant is also said to be developing physical and virtual debit cards that would be co-branded with the financial services players…