Google will become the latest technology company to wade into banking with the search giant set to offer checking accounts next year, according to the Wall Street Journal.
The accounts for the project will be run by Citigroup and the Stanford Federal Credit Union, the report said. Google did not immediately return an email for comment.
As part of a project code-named Cache, the search engine giant will become the latest Silicon Valley leader to enter the banking space. Previous attempts by Apple and Facebook faced obstacles, with consumers growing increasingly skeptical over providing big tech companies with their personal information,
Google does not intend to sell customers’ data, Caesar Sengupta, an executive at the firm, told the Journal.
Read the full WSJ story here.
This is a developing story. Check back for updates.