tl;dr: Google released Nano Banana 2 Lite (Gemini 3.1 Flash-Lite Image), a faster, cheaper version of its Nano Banana 2 image generation/editing model aimed at high-volume and real-time use cases. It supports text-to-image, edits, and multi-image composition via a single API, with partners like Figma Weave, Manus, and Latitude citing ~2.7× speed gains over Gemini 3.1 Flash Image while approaching full Nano Banana 2 quality. Known limitations include fine details, text accuracy, complex masked edits, and occasional character consistency issues.