Google Bank..Coming Soon?

Google is once again capturing the headlines as it seems the search engine giants is venturing into every possible field, and the lastest rumor is that Google with it’s vast data maybe step forth into the financial sector and for now it’s dubbed as “Google Bank”.

iTWire wrote:

At a conference for finance professionals held by Forrester Research in London last month, the dominant question on everyone’s mind appeared to be whether Google’s vast store of information about consumer search habits, email and content might allow it to enter the ultra-competitive consumer finance market, where detailed information on individual customers is widely viewed as essential in order to successfully sell products.

Asked if Google represented a threat to banks, Joseph DiVanna, managing director of consultant Maris Strategies, didn’t offer much in the way of comfort. “If you think about the footprint that Google has, it’s big,” he said. “It’s the same kind of footprint that we had in retail [banking] years ago with branches. I think Google is a force to be reckoned with.”

It may very well be true and not just a rumor, futhermore a possible domain name Gbank.com is already taken and a little WHOIS work showed that the name was created on 17-May-1996.

Paypal beware?

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