Featured in a timely reminder in the UK’s Telegraph newspaper, the subject of big Silicon Valley players scaling up their foray into banking continues to raise its head as a subject.
A study by the Washington Post also broached this subject recently, with payment innovator Square topping the poll of technology firms those surveyed would be willing to bank with:
— Kyle Zink (@kylezink) May 31, 2014
Google of course already have a number of services and sites dedicated to finance, beyond Google Finance but has yet to reach any notable mass in payments in a market context and is very quiet on the subject of banking. Apple and Facebook are additional names that have been mentioned many times before.
Rising trend data tends to support the notion of a technology originated bank and there is a potential goldmine, especially based on the available data (on their clients) for these organisations, despite the many accompanying pitfalls. What do you think?