Google Pushing for More Fintech Biz

  • JJ Hornblass
  • March 29, 2016
  • 0

Google is offering up its machine-learning infrastructure to “cool fintech startups.” The Google Cloud Computing allows for massive — and we mean massive — database queries, and offers the infrastructure to build deep machine-learning at scale.

Rene-Paul Lafarie, a Google System Engineer with requisite long beard, said this Cloud Computing system was a platform developed internally that Google has decided to make open source. The open source library, called TensorFlow, competes with IBM’s Watson, for example.

Lafarie, who represented Google at today’s FinDEVr event in New York, said the search giant specifically is not pitching the platform to huge FIs. “There are lots of cool startups that can use this,” he said. “Machine learning is important enough that we want to share it.”

Lafarie said the Cloud Computing offer to fintech is specifically not a derivative of Google’s financial services endeavors, such as Google Wallet or Android Pay.

The underlying message seems to be that Google can integrate through Cloud Computing to any number of to-be-massive fintech startups — and that, in turn, will likely fuel Google’s cash cow: search.

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JJ started the first iteration of Bank Innovation back in 2007, and has been working on it ever since. He also serves as President & Chief Executive Officer of Royal Media, Bank Innovation’s parent. He founded Royal in 1995 and oversees all aspects of the New York-based diversified media company. Prior to forming Royal, JJ was on the editorial staff of American Banker, the daily newspaper, and worked as an editor of a business magazine in Hong Kong. As a reporter and editor, he has won journalism awards from the National Press Foundation, Newsletter & Electronic Publishers Foundation, and the Reader’s Digest Foundation. He has a BS in Economics from Yeshiva University and a Master’s from the Columbia University Graduate School of Journalism. He was also a Fellow at the University of Wisconsin-Madison Graduate School of Banking. He lives in New York City with his wife, two daughters, and son. He counts among his accomplishments one New York City Marathon, two New York City Triathlons and the 2010 Father’s Day 5K, the first race he ever ran with his daughters. He can be reached at or 212-564-8972.

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