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Google is abandoning plans to pitch bank accounts to its users, marking a retreat from an effort to make the tech giant a bigger name in finance. The offering called Plex accounts was due to launch in 2020 but a series of missed deadlines, along with the April departure of the Google Pay executive who championed the project, prompted Google to pull the plug.
The project was initially expected to debut in 2020. A series of missed deadlines, along with the April departure of the Google Pay executive who championed the project, prompted Google to pull the plug on Plex, people familiar with the matter said. A Google spokeswoman said the company would now focus primarily on “delivering digital enablement for banks and other financial services providers rather than us serving as the provider of these services.”
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