Interesting news today: https://techcrunch.com/2019/11/13/google-to-offer-checking-accounts-in-partnership-with-banks-starting-next-year/
It will be interesting to see to what extent they aim for the same market as Monzo is going for - and what the impact is of such a high-profile new challenger.
The only way I see Google working is a credit card system.
I canât see them managing to run a current account service, as weâve seen with monzo people are very attached and emotional when it comes to their money , and Google even for their flagship expensive phones and devices support isnât that good in the sense of service its just âok weâll replace itâ
Imagine try to deal with Google if your account gets compromised.
I just donât see them bothering with building complex FPS BACS SEPA systems, but if they have a credit card with a slick app, good fees and maybe rewards then I can see myself using it.
Basically emulating the apple card.
Google have massive reach with virtually everyone having a Google account , so maybe they hope to reach people in the US who otherwise wouldnât use a fintech.
I understand the point youâre making, but thatâs not whatâs being reported in the media. A checking account is the US equivalent of a current account.
Tom covered this kind of âthreatâ in his Future of Monzo event Q&A. Basically, heâs not worried. Itâs worth a listen/watch here: https://www.youtube.com/watch?v=GnnNMf6zETA
Iâm probably the biggest Google fanboy out there (along with @nexusmaniac) but I cannot see this working if Google are building this in house.
If they acquired a small fintech it might be a different story.
That article has so many typos. Someoneâs autocorrect was on overdrive.
I spotted that too 
, @j06. The original Wall Street Journal article on which itâs based, however, didnât - but was behind a paywall, which is why I shared this one.
Iâll note that this isnât the first time Google has tried something like this- I used to have a Google Wallet prepaid card a few years back, and I barely used it because it really wasnât a polished experience at all. It was cool to have as a conversation piece, but it wasnât going to replace a full bank account. Which is probably why Google gave up on it. I hope theyâve learned from that first attempt, otherwise theyâre going to have a tough time.
As an investor (forgive the lack of icon) itâs safe to say that last sentence piqued my interest.
Iâve wondered quietly for a while if a plausible exit might actually be Monzoâs acquisition by a tech giant rather than an existing bank or IPO. I should add that this is PURE SPECULATION however.
My personal feeling is that doing that would be tantamount to admitting we failed to achieve our aims as a standalone company, so I donât think we should entertain that idea, and we certainly havenât entertained it in the past.
That being said, we must acquiesce that we donât know where the market is going as a definite, and if we ended up somewhere where it was the only logical move then of course we would have to consider it at that point.
Itâs unlikely, IMO. I suspect we will see some big tech/fintech acquisitions in the next few years, but I think itâd probably be companies much smaller than us.
Thatâs a fair response and youâre probably right. Naturally, nobody can be certain about how the market(s) might shift.
One small clarification, I didnât think you were referring to Monzo as a âsmall fintechâ.
I have no idea how The Telegraph managed to make this about us.
At this stage, to be honest, if someone fell over anywhere in Central London, the Telegraph would probably write âPerson trips and falls near Monzo officeâ 
Possibly, on the software side of things Google would be pretty powerful and then thereâs the financial clout they have
Google are doing this with Citibank as itâs banking partner. Hence, they have no need to build/design lots of banking infrastructure to enter the market.
Apple did the same but with JP Morgan for its Apple Credit Card
Goldman Sachs do the Apple Card
The Telegraph have published an article this morning about why Monzo and Revolut have nothing to fear in the UK
The Telegraph really do have a shine for Monzo lately!
Actual mentions of Monzo. Minimal