Large banks and aggregator sites, like Bankrate, tend to outperform regional and community banks, but smaller institutions can compete by publishing valuable content and creating web pages for individual branches.
Google has redesigned Google Pay to add new financial management and loyalty features; and to offer consumers checking and savings accounts from partner banks and credit unions in 2021.
As the pandemic speeds digital adoption at financial institutions, the technology giants are pitching products that scan in data from mortgage documents and provide security and compliance controls used by in-house tech developers.
House Democrats’ antitrust reform plan intended to rein in companies like Amazon and Google could help level the regulatory playing field between the banking industry and its digital competitors. It could also revive calls to break up financial behemoths.
Banks can capitalize on Amazon’s ambitions by teaming up to launch financial products and services aimed at coveted customer segments. But they should beware the legal and regulatory pitfalls.
Why banks want in on Google checking accounts; readying new tech tools to tackle anticipated rise in delinquencies; more institutions opt to sell PPP loans as heavy lifting nears; and more from this week’s most-read stories.
The marketing and tech-sharing opportunities for Google's eight financial institution partners are captivating despite the risk of data privacy or other issues cropping up down the road.
