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Google shutters financial comparison site

23 February 2016  |  6485 views  |  1 arrow on screen

Google is to shut down its financial comparison site one year after launch in the US and UK.

The Google Compare site launched in March 2015 as a car insurance comparison site for automobile buyers in California. It was since expanded to other markets and for comparison-shopping of credit cards and mortgages.

However, the company has failed to gain traction with consumers and struggled to bring the largest insurers and lenders onboard, according to the Wall Street Journal.

The Journal says that Google sent an e-mail to its partners on Monday explaining that the comparison sites in the UK and US would begin winding down this month and terminate on 23 March.

The reversal is a setback for Google and its plans to sell more ads on the back of financial services services data and information.

Comments: (1)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 25 February, 2016, 10:26

"...the company has ... struggled to bring the largest insurers and lenders onboard". Along with Apple Pay's failure to enter Canada and Australia, this is the most powerful lesson to finsurgents who previously predicted the death of banks and are now singing the fintech-BFSI partnership tune: BFSI will survive with or without fintech but fintech will die without BFSI.

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