Is all-digital “neobanking” the future?

Andie Corban, Kai Ryssdal, and Molly Wood Nov 13, 2019
HTML EMBED:
COPY
Leon Neal/Getty Images

Is all-digital “neobanking” the future?

Andie Corban, Kai Ryssdal, and Molly Wood Nov 13, 2019
Leon Neal/Getty Images
HTML EMBED:
COPY

Google announced Wednesday it will start offering checking accounts through a partnership with Citigroup. Google is far from the only tech company to move into the financial space. “Marketplace” host Kai Ryssdal spoke with Molly Wood of “Marketplace Tech” about Google’s announcement and the future of “neobanking,” all-digital services accessed by mobile devices.

Wood agreed with Ryssdal that for Google, this is all about gaining access to data.

“It’s almost the final frontier in terms of owning the consumer soup to nuts, every activity that they do in life,” Wood said.

Click the audio player above to hear the interview.

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.