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Is all-digital “neobanking” the future?

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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.

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