Business
Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. We’ve been talking for a long time about big tech’s move into finance. We’ve seen Apple’s launch of a credit card, Amazon and Shopify’s lending to merchants, and Facebook move deeper into payments on its messaging apps. News hit this week that gave us more insight into Google’s moves in banking. The company is launching Plex accounts, smarter and simpler bank accounts within a redesgined Google Pay app. Google isn’t becoming a bank — these accounts are launched in collaboration with chartered banks, like Citi and BBVA. Seattle Bank also landed a partnership with Google. The sub-$1 billion community bank in the pacific northwest will also work with Google to launch a Plex account. I spoke with John Blizzard, Seattle Bank’s president and CEO about the move and what it means for the community bank. We discuss if other small firms can and will replicate these types of partnerships with big tech. John shares his vision for the future of small banks and technology. John Blizzard is my guest today on the Tearsheet Podcast.