Tagged: marcus

April 23, 2024 @ 10:20 am By JD Alois  |  

Goldman Sachs (NYSE:GS) , the most respected investment bank in the world, is continuing its retreat from retail Fintech services as it revealed this week that Marcus Invest, its Fintech wealth management platform, would be shuttered and services picked up by Betterment, a registered investment adviser…. Read More

July 19, 2023 @ 8:19 am By JD Alois  |  

Goldman Sachs (NYSE:GS) has reported Q2 2023 earnings, and it’s a bit of a mixed bag. Goldman surpassed expectations for top-line revenue generating $10.9 billion on a predicted $10.61 billion. Net revenue disappointed as Goldman generated an earnings per share of $3.08, with analysts anticipating… Read More

May 30, 2023 @ 11:47 am By JD Alois  |  

Recently, Ram Ahluwalia wrote an Op-Ed for American Banker that posed a somewhat controversial take on banking. Ahluwalia said outdated banking rules are denying access to Big Tech firms, like Apple and Amazon, who could enter the banking sector and bring loads of capital as… Read More

May 10, 2023 @ 1:04 pm By JD Alois  |  

Goldman Sachs (NYSE:GS) provides much of the magic behind Apple’s (NASDAQ:AAPL) Fintech ventures. Not too long ago, Apple announced its anticipated saving plan, offering consumers an APY of 4.15% – higher than many banking firms. While few details are available on the success of Apple… Read More

April 18, 2023 @ 10:57 am By JD Alois  |  

Following the release of Goldman Sachs‘s (NYSE:GS) quarterly earnings, which fell short of analyst expectations, Goldman revealed its intent to pull back from its consumer operations and focus its efforts on its Platform Solutions. At the same time, Goldman announced that it would sell GreenSky,… Read More

April 18, 2023 @ 7:57 am By JD Alois  |  

Goldman Sachs (NYSE:GS) is taking a beating in pre-market trading as earnings missed on the top line according to anaylist expectations. Goldman reported Q1 2023 net revenue of $12.22 billion and net earnings of $3.23 billion. Earnings per share (EPS) came in at $8.79. The… Read More

January 20, 2023 @ 3:56 pm By JD Alois  |  

The US Federal Reserve is said to be investigating Goldman Sachs (NYSE:GS)  and their consumer operations – specifically consumer lending, according to a report. The news follows a difficult earnings report by Goldman that is being described as its worse earnings miss in a decade.  Goldman’s… Read More

January 17, 2023 @ 10:53 am By JD Alois  |  

Goldman Sachs (NYSE:GS) reported Q4 2022 and full-year 2022 results this morning, falling short of analyst expectations. The operations of the world’s most prominent investment bank and aspiring Fintech have been challenged during a difficult economic climate. Recently, Goldman slashed approximately 3200 employees to cut… Read More

January 13, 2023 @ 9:59 am By JD Alois  |  

Goldman Sachs (NYSE:GS) has filed an 8-K with the Securities and Exchange Commission that describes the new divisional structure of the firm that was revealed last year. Last October, Goldman outlined its new reporting structure, which included the following: Asset and Wealth Management Global Banking… Read More

October 18, 2022 @ 8:30 am By JD Alois  |  

Goldman Sachs (NYSE:GS) topped estimates this morning, reporting earnings per share (EPS) of $8.25, handily beating analyst expectations. While the investment bank experienced significant declines in top and bottom line numbers due to the challenging economic environment, performance was welcomed by investors. According to the… Read More

October 17, 2022 @ 10:23 am By JD Alois  |  

A day before Goldman Sachs (NYSE:GS) will post its Q3 earnings, a report has been distributed indicating Goldman will pursue a major overhaul of the structure of the banking firm. According to WSJ.com, investment banking and trading will now be a single division, asset and… Read More

September 16, 2022 @ 6:50 pm By JD Alois  |  

Marcus, the Goldman Sachs (NYSE:GS) owned digital bank serving consumers in both the US and the UK, is getting some scrutiny from the US Federal Reserve according to reports. The Fed is one of several federal agencies that has regulatory oversight over banks. The Fed… Read More

August 25, 2022 @ 4:35 pm By JD Alois  |  

It appears that Marcus by Goldman Sachs (NYSE:GS) is struggling with something so plebeian, like consumer checking. In a day when fewer and fewer people are using physical checks, opting for online payments and tap to pay with their iPhone, Marcus may delay its consumer checking… Read More

July 18, 2022 @ 9:14 am By JD Alois  |  

Goldman Sachs (NYSE:GS) has beaten analyst estimates reporting Q2 2022 earnings per share of $7.73. At the same time, Goldman raised its dividend to $2.50 a share, a whopping 25% increase over previous amount. The price of Goldman shares increased in pre-market trading. David Solomon,… Read More

April 19, 2022 @ 10:40 am By JD Alois  |  

Goldman Sachs (NYSE:GS), the words most prominent investment bank and aspiring global Fintech, announced Q1 earnings today that topped estimates. Goldman reported net revenues of $12.93 billion and earnings of $3.94 billion or an EPS of $10.76. Estimates had pegged EPS at $8.89. During the… Read More

March 30, 2022 @ 4:14 pm By JD Alois  |  

A report from earlier today should come as no surprise as it is being predicted that Apple (NASDAQ:APPL) will move deeper into digital financial services or Fintech. According to Bloomberg, a person with knowledge of the matter said that Apple is building its own payments… Read More

February 9, 2022 @ 3:03 pm By Tony Zerucha  |  

Highline, a payroll-linked bill payment method, launched this week with $4.5 million in seed funding led by Foundation Capital and Costanoa Ventures. The company said its goal is to enable Americans to take control of their finances based on their income rather than their credit… Read More

October 19, 2021 @ 12:00 pm By JD Alois  |  

Buy now, pay later (BNPL) is a red hot sector of Fintech. Combine this with banking as a service (BaaS) and you see two dominant trends in the transition from legacy banks to Fintech everywhere with embedded services and on-demand finance. Research and Markets predicts… Read More

October 15, 2021 @ 9:42 am By JD Alois  |  

Goldman Sachs (NYSE:GS) a global investment bank and fast-growing Fintech firm, has reported Q3 financial results and business is good. According to Goldman, during the first nine months of 2021, the company generated net revenues of $46.70 billion along with net earnings of $17.70 billion… Read More

September 17, 2021 @ 2:14 pm By JD Alois  |  

JPMorgan Chase (NYSE: JPM) revealed many months ago its intent to launch a new digital bank in the UK. Today, there are reports the digital bank under the Chase brand will launch next week. In January of 2021, JPM said it wanted to provide UK… Read More