- Google redesigned Google Finance to educate consumers about the stock market, opening up the space to more users.
- This is one of a series of Google financial services initiatives, and it looks like it has now turned to trading.
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The tech giant has redesigned its Google Finance service for desktop and mobile, which will make it easier for consumers to find data on stocks and trends for consumers, according to a company blog post. First, Google Finance will be available in the United States.
With the overhaul, Google wants to help consumers make informed investment decisions. Users will be able to create their own watchlists to find relevant information, statistics and profit details to gain more context on stock movements. Plus, they’ll be able to add corporate events and income calls directly to their Google Calendar.
Later this year, Google will expand the watchlist functionality, allowing users to play with model portfolios and create their own portfolios to easily track wins and losses, as well as news relevant to the portfolio.
With poor financial literacy among American consumers, the new tools can help people get started with investing, while also improving Google’s financial services push.
- American consumers are not yet familiar with investing, but educational tools can help build their confidence. According to a JD Power study cited by CNBC, half of Americans said they were unsure whether buying shares in a single company generally offered a better return than investing in a mutual fund. Google Finance, for example, will help answer consumer questions and provide definitions of technical terms on its website. Other investment platforms like Robinhood also provide educational tools to help build consumers’ financial literacy, but Google is taking advantage of its broad reach and customer base to drive adoption of the new service.
- This is a series of Google financial services initiatives, and it looks like it has now turned to trading. Google got into finance, most recently when it announced plans to offer loans to small and medium-sized enterprises (SMEs) in India through its Google Pay for Business app, and said it would start offering consumer chequing accounts. With the latest move, it looks like Google might have its eyes on trading, and we might see the tech giant push further into the stock market in the future by rolling out its own brokerage service.
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