Google Is Planning to Offer Checking Accounts in Partnership With Banks

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Google is increasingly involved in more areas of its users’ lives. It’s where we turn every day for answers to pretty much everything from simple questions to complicated research. It’s where we get our email, store our photos, manage our calendars, and manage our files. It’s already the most dominant mobile operating system, and it now makes smart home devices. With its purchase of Fitbit, it’s clear Google also wants to dominate wearable technology.

Or, said another way, Google is everywhere.

Now, according to The Wall Street Journal, Google is working on a new project called Cache that involves offering checking accounts. Yes, Google wants to be your bank.

Well, more specifically, Google plans to partner with banks to offer its customers access to banking products like checking accounts. In this case, accounts would be offered by Citigroup, as well as a credit union at Stanford University, and those financial institutions would provide all of the financial services and account management.

Google would provide the convenience, along with loyalty rewards. For example, users would access their accounts through Google Pay, much like Apple’s users access its branded credit card through Apple Pay.

 

Speaking of which, with recent moves by other tech companies into the personal finance space, it was probably inevitable that Google would follow suit. Apple recently introduced its own credit card with Goldman Sachs, and Facebook has announced its plans to launch a digital currency called Libra. It might be worth mentioning that both of those have come under intense scrutiny, with New York regulators launching an investigation into Apple Card for discriminating on the basis of gender when extending credit limits.

I actually think this is less a deviation for Google than it might seem. In fact, as TechCrunch pointed out, by providing users with checking accounts, “Google obviously stands to gain a lot of valuable information and insight on customer behavior with access to their checking account, which for many is a good picture of overall day-to-day financial life.”

It’s helpful to remember that for all the useful services Google provides, the company is, at its core, an advertising platform. That is the underlying business model that makes it huge amounts of money, and it’s the driving force behind every product or service it offers.

And while Google hasn’t suffered the same level of scandal as the next-largest advertising platform, Facebook, the strategy is the same–monetize people’s personal information.

Of course, that lack of scandal is reflected in the fact that consumers say they are more likely to trust Google with their financial information than some of its competitors. Only Amazon was rated higher in a McKinsey & Company survey included in the Journal’s report. Fifty-eight percent of consumers said they would trust Google for financial products.

The Journal also reports that Google won’t sell financial information to advertisers, which is great, but that doesn’t mean it won’t use that information to target specific advertising at customers based on their income or spending habits — which is really the only reason Google would get into financial products in the first place.

It’s also the only thing you need to know when considering whether this is a good idea. I’m not sure any amount of “loyalty program” or convenience can make up for the cost of having even more of your personal information monetized.

Jason AtenWriter and business coach

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Google is planning to launch consumer checking accounts next year in partnership with Citigroup and Stanford University, The Wall Street Journal (WSJ) reported on Wednesday (Nov. 13). Code-named Cache, the accounts will be handled by Citigroup and a credit union at Stanford University. The branding will reflect the financial institutions and not Google. “Our approach is going to be to partner deeply with banks and the financial system,” Google VP of Product Management Caesar Sengupta told WSJ. “It may be the slightly longer path, but it’s more sustainable.”

Google to Pay $2.1 Billion for Fitbit, Making It the Latest Giant Ramping Up on Healthtech

Google is the latest giant company angling to secure more of users’ health information–potentially boding well for healthtech startups looking for an acquirer one day.

Reuters reported this week that Google’s owner, Alphabet, has made an offer to acquire wearable device maker Fitbit. Update: On Friday, Fitbit announced that it has agreed to be acquired by Google for approximately $2.1 billion. The deal is expected to close in 2020. The news comes on the heels of reports last month that Fitbit CEO James Park was exploring a potential sale for his company.

Park and CTO Eric Friedman co-founded the San Francisco-based company in 2007, and proceeded to help pioneer the wearable device industry–which reached a value of $1.6 billion last year, according to a June Research and Markets report. But recently, Reuters noted, the company has been struggling to successfully pivot from fitness trackers to smartwatches, now dominated by Apple and Samsung.

Google’s interest in smartwatches has been well-documented. Last month, Business Insider reported that the company started developing smartwatch offerings as early as 2013–but has still never released one because of a series of internal reorganizations, quality issues, and design struggles. In January, Google spent $40 million to acquire a chunk of smartwatch intellectual property–and members of the team responsible for creating it–from fashion designer and manufacturer Fossil Group.

More broadly, tech giants have spent the past few years snapping up health care data-oriented startups. In June of 2018, Amazon bought online pharmacy, and 2016 Inc. Rising Star, PillPack for near $750 million–and it acquired digital health startup Health Navigator for an undisclosed price just last Wednesday. Apple purchased personal health data company Gliimpse in 2016, sleep sensor maker Beddit in 2017, and asthma monitoring system Tueo Health in 2018, all also for undisclosed prices.

Altogether, the health care industry has seen at least 250 mergers, acquisitions, shareholder spinoffs, and other similar deals per quarter for more than two years, according to PwC’s most recent U.S. Health Services Deals Insights report. The report noted that in the third quarter of 2019 alone, the industry’s deals tallied $19.6 billion, up nearly 18 percent from the same quarter a year ago.

Cameron Albert-Deitch Reporter, Inc.

Source: Google to Pay $2.1 Billion for Fitbit, Making It the Latest Giant Ramping Up on Healthtech

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CNBC’s “Squawk on the Street” crew discuss the news that Fitbit will be acquired by Google.

The 7 Biggest Technology Trends In 2020 Everyone Must Get Ready For Now

We are amidst the 4th Industrial Revolution, and technology is evolving faster than ever. Companies and individuals that don’t keep up with some of the major tech trends run the risk of being left behind. Understanding the key trends will allow people and businesses to prepare and grasp the opportunities. As a business and technology futurist, it is my job to look ahead and identify the most important trends. In this article, I share with you the seven most imminent trends everyone should get ready for in 2020.

AI-as-a-service

Artificial Intelligence (AI) is one of the most transformative tech evolutions of our times. As I highlighted in my book ‘Artificial Intelligence in Practice’, most companies have started to explore how they can use AI to improve the customer experience and to streamline their business operations. This will continue in 2020, and while people will increasingly become used to working alongside AIs, designing and deploying our own AI-based systems will remain an expensive proposition for most businesses.

For this reason, much of the AI applications will continue to be done through providers of as-a-service platforms, which allow us to simply feed in our own data and pay for the algorithms or compute resources as we use them.

Currently, these platforms, provided by the likes of Amazon, Google, and Microsoft, tend to be somewhat broad in scope, with (often expensive) custom-engineering required to apply them to the specific tasks an organization may require. During 2020, we will see wider adoption and a growing pool of providers that are likely to start offering more tailored applications and services for specific or specialized tasks. This will mean no company will have any excuses left not to use AI.

Today In: Innovation

5G data networks

The 5th generation of mobile internet connectivity is going to give us super-fast download and upload speeds as well as more stable connections. While 5G mobile data networks became available for the first time in 2019, they were mostly still expensive and limited to functioning in confined areas or major cities. 2020 is likely to be the year when 5G really starts to fly, with more affordable data plans as well as greatly improved coverage, meaning that everyone can join in the fun.

Super-fast data networks will not only give us the ability to stream movies and music at higher quality when we’re on the move. The greatly increased speeds mean that mobile networks will become more usable even than the wired networks running into our homes and businesses. Companies must consider the business implications of having super-fast and stable internet access anywhere. The increased bandwidth will enable machines, robots, and autonomous vehicles to collect and transfer more data than ever, leading to advances in the area of the Internet of Things (IoT) and smart machinery. Smart cities

Autonomous Driving

While we still aren’t at the stage where we can expect to routinely travel in, or even see, autonomous vehicles in 2020, they will undoubtedly continue to generate a significant amount of excitement.

Tesla chief Elon Musk has said he expects his company to create a truly “complete” autonomous vehicle by this year, and the number of vehicles capable of operating with a lesser degree of autonomy – such as automated braking and lane-changing – will become an increasingly common sight. In addition to this, other in-car systems not directly connected to driving, such as security and entertainment functions – will become increasingly automated and reliant on data capture and analytics. Google’s sister-company Waymo has just completed a trial of autonomous taxis in California, where it transported more than Xk people.

It won’t just be cars, of course – trucking and shipping are becoming more autonomous, and breakthroughs in this space are likely to continue to hit the headlines throughout 2020.

With the maturing of autonomous driving technology, we will also increasingly hear about the measures that will be taken by regulators, legislators, and authorities. Changes to laws, existing infrastructure, and social attitudes are all likely to be required before autonomous driving becomes a practical reality for most of us. During 2020, it’s likely we will start to see the debate around autonomous driving spread outside of the tech world, as more and more people come round to the idea that the question is not “if,” but “when,” it will become a reality.

Personalized and predictive medicine

Technology is currently transforming healthcare at an unprecedented rate. Our ability to capture data from wearable devices such as smartwatches will give us the ability to increasingly predict and treat health issues in people even before they experience any symptoms.

When it comes to treatment, we will see much more personalized approaches. This is also referred to as precision medicine which allows doctors to more precisely prescribe medicines and apply treatments, thanks to a data-driven understanding of how effective they are likely to be for a specific patient.

Although not a new idea, thanks to recent breakthroughs in technology, especially in the fields of genomics and AI, it is giving us a greater understanding of how different people’s bodies are better or worse equipped to fight off specific diseases, as well as how they are likely to react to different types of medication or treatment.

Throughout 2020 we will see new applications of predictive healthcare and the introduction of more personalized and effective treatments to ensure better outcomes for individual patients.

Computer Vision

In computer terms, “vision” involves systems that are able to identify items, places, objects or people from visual images – those collected by a camera or sensor. It’s this technology that allows your smartphone camera to recognize which part of the image it’s capturing is a face, and powers technology such as Google Image Search.

As we move through 2020, we’re going to see computer vision equipped tools and technology rolled out for an ever-increasing number of uses. It’s fundamental to the way autonomous cars will “see” and navigate their way around danger. Production lines will employ computer vision cameras to watch for defective products or equipment failures, and security cameras will be able to alert us to anything out of the ordinary, without requiring 24/7 monitoring.

Computer vision is also enabling face recognition, which we will hear a lot about in 2020. We have already seen how useful the technology is in controlling access to our smartphones in the case of Apple’s FaceID and how Dubai airport uses it to provide a smoother customer journey [add link]. However, as the use cases will grow in 2020, we will also have more debates about limiting the use of this technology because of its potential to erode privacy and enable ‘Big Brother’-like state control.

Extended Reality

Extended Reality (XR) is a catch-all term that covers several new and emerging technologies being used to create more immersive digital experiences. More specifically, it refers to virtual, augmented, and mixed reality. Virtual reality (VR) provides a fully digitally immersive experience where you enter a computer-generated world using headsets that blend out the real world. Augmented reality (AR) overlays digital objects onto the real world via smartphone screens or displays (think Snapchat filters). Mixed reality (MR) is an extension of AR, that means users can interact with digital objects placed in the real world (think playing a holographic piano that you have placed into your room via an AR headset).

These technologies have been around for a few years now but have largely been confined to the world of entertainment – with Oculus Rift and Vive headsets providing the current state-of-the-art in videogames, and smartphone features such as camera filters and Pokemon Go-style games providing the most visible examples of AR.

From 2020 expect all of that to change, as businesses get to grips with the wealth of exciting possibilities offered by both current forms of XR. Virtual and augmented reality will become increasingly prevalent for training and simulation, as well as offering new ways to interact with customers.

Blockchain Technology

Blockchain is a technology trend that I have covered extensively this year, and yet you’re still likely to get blank looks if you mention in non-tech-savvy company. 2020 could finally be the year when that changes, though. Blockchain is essentially a digital ledger used to record transactions but secured due to its encrypted and decentralized nature. During 2019 some commentators began to argue that the technology was over-hyped and perhaps not as useful as first thought. However, continued investment by the likes of FedEx, IBM, Walmart and Mastercard during 2019 is likely to start to show real-world results, and if they manage to prove its case, could quickly lead to an increase in adoption by smaller players.

And if things are going to plan, 2020 will also see the launch of Facebook’s own blockchain-based crypto currently Libra, which is going to create quite a stir.

If you would like to keep track of these technologies, simply follow me on YouTube, Twitter, LinkedIn, and Instagram, or head to my website for many more in-depth articles on these topics.

Follow me on Twitter or LinkedIn. Check out my website.

Bernard Marr is an internationally best-selling author, popular keynote speaker, futurist, and a strategic business & technology advisor to governments and companies. He helps organisations improve their business performance, use data more intelligently, and understand the implications of new technologies such as artificial intelligence, big data, blockchains, and the Internet of Things. Why don’t you connect with Bernard on Twitter (@bernardmarr), LinkedIn (https://uk.linkedin.com/in/bernardmarr) or instagram (bernard.marr)?

Source: The 7 Biggest Technology Trends In 2020 Everyone Must Get Ready For Now

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In this Intellipaat’s top 10 technologies to learn in 2019 video, you will learn all the trending technologies in the market in 2019. The end goal of this video is to educate you about the latest technologies to learn and all the top 10 trending technologies you can watch for in order to make a fantastic career in IT technologies in 2019. Do subscribe to Intellipaat channel to get regular updates on them: https://goo.gl/hhsGWb Intellipaat Online Training: https://goo.gl/LeiW5S AI & Deep Learning Training: https://goo.gl/amnqEK Blockchain Training: https://goo.gl/CgDPyu Cloud Computing Training: https://goo.gl/PY2nbX Big Data Hadoop Training: https://goo.gl/NJaDuf BI Tools Training: https://goo.gl/SbkRXT DevOps Training: https://goo.gl/zz15qn Salesforce Training: https://goo.gl/zN3tLj SAP HANA Training: https://goo.gl/x2Jiu7 Python Programming Training: https://goo.gl/8urtdD Oracle DBA Training: https://goo.gl/LhYLTS Are you interested to learn any of the trending technology 2019 mentioned in the video? Enroll in our Intellipaat courses & become a certified Professional (https://goo.gl/LeiW5S). All Intellipaat trainings are provided by Industry experts and is completely aligned with industry standards and certification bodies. If you’ve enjoyed this top technologies to learn video, Like us and Subscribe to our channel for more trending technologies of 2019 tutorials. Got any questions about the top technologies to learn in 2019? Ask us in the comment section below. —————————- Intellipaat Edge 1. 24*7 Life time Access & Support 2. Flexible Class Schedule 3. Job Assistance 4. Mentors with +14 yrs 5. Industry Oriented Course ware 6. Life time free Course Upgrade #Top10TechnologiesToLearnIn2019 #TrendingTechnologies2019 #Top10ITTechnologiesIn2019 —————————— For more Information: Please write us to sales@intellipaat.com, or call us at: +91- 7847955955 Website: https://goo.gl/LeiW5S Facebook: https://www.facebook.com/intellipaato… LinkedIn: https://www.linkedin.com/in/intellipaat/ Twitter: https://twitter.com/Intellipaat

Google Warns LastPass Users Were Exposed To ‘Last Password’ Credential Leak

Google Project Zero is a team of highly talented security analysts with a brief to uncover zero-day vulnerabilities. If a vulnerability is found, Project Zero reports to the vendor concerned and starts a 90-day countdown for a fix to be issued before full public disclosure is made. LastPass is also in the security business, being one of the most popular password management solutions with more than 16 million users, including 58,000 businesses. Project Zero has just disclosed that a security vulnerability left some of those 16 million users exposed to the risk of credential compromise as, in an ironic twist, LastPass could leak the last password used to any website visited.

How could the LastPass ‘last password’ vulnerability be exploited?

In a tweet posted September 16, Google Project Zero analyst Tavis Ormandy stated that “LastPass could leak the last used credentials due to a cache not being updated,” adding “this was because you can bypass the tab credential cache being populated by including the login form in an unexpected way!”

Ormandy reported the vulnerability on August 29, as Project Zero issue 1930, which showed how the credentials previously filled by LastPass could be exposed to any website under certain circumstances.

Today In: Innovation

Ferenc Kun, the security engineering manager for LastPass at LogMeIn, which owns LastPass, said in an online statement that this “limited set of circumstances on specific browser extensions” could potentially enable the attack scenario described.

“To exploit this bug, a series of actions would need to be taken by a LastPass user including filling a password with the LastPass icon, then visiting a compromised or malicious site and finally being tricked into clicking on the page several times,” Kun said, “any potential exposure due to the bug was limited to specific browsers (Chrome and Opera.)”

The answer, thankfully, is nothing. LastPass has already patched the vulnerability, and the fix was comprehensively verified with Project Zero. Indeed, the fix was rolled out on September 13, and Kun confirmed that “we have now resolved this bug; no user action is required and your LastPass browser extension will update automatically.”

As a precaution, the LastPass update was deployed to all web browsers and not just Chrome and Opera.

How severe was this vulnerability and should you stop using LastPass?

Let’s deal with the last part of that question first; there’s absolutely no reason to stop using LastPass or your preferred password manager for that matter. “Although password managers like any other software have flaws the benefits of using one far outweigh the risks,” says ethical hacker John Opdenakker. “It’s far more likely that your accounts will get compromised by attacks that exploit poor passwords,” Opdenakker says, “such as through credential reuse, than by attacks against password managers themselves.”

OK, so how serious was this particular vulnerability? It certainly sounds serious enough, right? Tavis Ormandy at Project Zero allocated the vulnerability a “high” severity rating. Opdenakker isn’t so sure it merits that. “I think it’s most important that LastPass fixed this bug, which is certainly not a critical one, within a reasonable amount of time,” Opdenakker says, “it’s debatable whether it’s high or medium because, as Ormandy says, it doesn’t work for all URLs.”

LastPass security recommendations

Ferenc Kun said that LastPass continues to recommend the following best practices for added online security:

  • Do not click on links from people you don’t know, or that seem out of character from your trusted contacts and companies.
  • Always enable Multi-Factor Authentication (MFA) for LastPass and other services like your bank, email, Twitter, Facebook, etc.
  • Never reuse your LastPass master password and never disclose it to anyone, including us.
  • Use different, unique passwords for every online account.
  • Keep your computer malware-free by running antivirus with the latest detection patterns and keeping your software up-to-date.

More at Forbes

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Follow me on Twitter or LinkedIn. Check out my website.

I’m a three-decade veteran technology journalist and have been a contributing editor at PC Pro magazine since the first issue in 1994. A three-time winner of the BT Security Journalist of the Year award (2006, 2008, 2010) I was also fortunate enough to be named BT Technology Journalist of the Year in 1996 for a forward-looking feature in PC Pro called ‘Threats to the Internet.’ In 2011 I was honored with the Enigma Award for a lifetime contribution to IT security journalism. Contact me in confidence at davey@happygeek.com if you have a story to reveal or research to share

Source: Google Warns LastPass Users Were Exposed To ‘Last Password’ Credential Leak

This is a short intro to how to use LastPass. Links: https://www.lastpass.com https://youtu.be/M4Z0xwzpQrk (My Diceware Video) ======================================== Follow me on Twitter: @redfalconsec Like me on Facebook: search “RedFalcon Security” Fonts used: Digitalt by gluk (http://www.dafont.com/digitalt.font) Royalty free ClipArt provided by LibrOffice Impress and clker (www.clker.com). This video made entirely in Linux using open source tools.

French regulator orders Google to take measures on advertising — peoples trust toronto

http://bit.ly/2RqgIqZ January 31, 2019 PARIS (Reuters) – France’s competition regulator has ordered Google to take measures regarding some of its advertising methods, saying these had hit French firm Amadeus which runs a directory service in France. “Google will need to quickly clarify the rules for its Google Ads online advertising platform that apply to electronic […]

via French regulator orders Google to take measures on advertising — peoples trust toronto

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