Big Tech will push into finance in 2020 while avoiding bank regulation

Big Tech may want to get into banking this year, but it doesn’t want to be your bank.

Google plans to introduce consumer bank accounts later this year in collaboration with Citibank and a California-based credit union. The company wants to piggyback off the financial know-how of its partners, while providing the digital layer through Google Pay.

It’s somewhat similar to a move from once of its Silicon Valley peers. In 2019, Apple debuted a credit card that created in partnership with Goldman Sachs. Like Google, the company has left much of the financial legwork to its bank partner while designing…