Tagged: marcus

Apple Card to Launch in August

Following a solid top and bottom-line beat for the Q3 earnings report, Apple CEO Tim Cook confirmed that Apple Card, the credit card crafted in partnership with Goldman Sachs, will launch in August. Apple Card is an extension of Apple Pay and the Apple Wallet…. Read More

Fintech & Goldman Sachs: Parsing the Most Recent Earnings Report

Goldman Sachs (NYSE:GS) issued its Q2 earnings report this past Tuesday (July 16). Goldman’s shares moved higher following the release after beating expectations on both the top and bottom lines. Goldman also announced an increase in the capital return program including an increase in the… Read More

Fintech Investment: Goldman Sachs Backs Raisin with €25 million as Company Expands into US Market

Raisin, a Germany-based Fintech that has rapidly grown in popularity across the continent, has received a €25 million from Goldman Sachs. Raisin announced its intent to cross the Atlantic this past May and enter the US market. Raisin is a Fintech that enables savers to… Read More

Goldman Sachs CEO Says They Get No Credit for Digital Bank Marcus

Goldman Sachs (NYSE:GS) CEO David Salomon reportedly told an audience last week that his company is getting zero credit for its digital bank startup Marcus. “If we were out in Silicon Valley and made 20% of the progress that we’ve made, we would get a… Read More

Money Management App Money Dashboard Announces Integration with Revolut, Chip and Marcus by Goldman Sachs

Money Dashboard, a UK-based online personal financial management service, announced on Tuesday it has released integrations with three new account providers – Revolut, Chip, and Marcus by Goldman Sachs. According to Money Dashboard, the integrations help consumers track spending and progress towards their savings goals in real time…. Read More

Digital Bank Marcus UK Tops 250,000 Customers, £8 Billion in Deposits

A report in Yahoo Finance indicates that Marcus, Goldman Sachs’ digital only challenger bank, is doing quite well in the United Kingdom. Des McDaid, the Managing Director for Marcus in the UK, stated: “We’ve passed a quarter of a million customers and just over £8bn… Read More

Goldman Sachs is Betting Big on Fintech

While most of the headlines covering Goldman Sachs’ (NYSE:GS) Q1 earnings report targeted the decline in earnings and profit, for investors that tuned in to the earnings call they were able to learn more about Goldman’s transformation into a financial services firm of the future…. Read More

Apple and Goldman Sachs to Partner on Credit Card Linked to iPhone Wallet

Apple (NASDAQ: APPL) and Goldman Sachs (NYSE: GS) are hooking up with a new credit card scheduled to launch this spring, according to a report in WSJ.com. Rumblings of a Goldman – Apple partnership first emerged in May of 2018, again reported by WSJ. At… Read More

Digital Bank Marcus Now Has $35 Billion in Deposits. “Our Plan Has Always Been to Build a Platform”

Digital only bank Marcus continues to gain traction in both the US and the UK. During the Q4 earnings call by Goldman Sachs (NYSE: GS) yesterday, the management team shared some additional insight into the Fintech’s growth. Goldman, by the way, reported blowout numbers which… Read More

Fintech News: The Biggest Fintech Stories of 2018

Fintech, or financial innovation, is pervasive within the financial services industry. Innovation has always existed in this sector of business but the advent of the internet combined with the creativity of risk taking entrepreneurs has engendered an accelerated period of disruptive change in finance. Think about… Read More

Report Confirms that Goldman Will Move Into Wealth Management for the Masses

As we predicted just yesterday, Goldman Sachs will move into the wealth management space, according to a note by CNBC. The additional service was alluded to in the most recent Goldman earnings call which took place last week. The new financial advisor service will most… Read More

Goldman Sachs’ Digital Bank Marcus Rapidly Gains UK Consumer Accounts

Last week, Goldman Sachs (NYSE:GS) shared their 3rd quarter earnings report. Buried within the report was an update on Marcus, the digital bank and online lender that recently crossed the Atlantic setting up a beachhead in Europe by opening up in the UK in late September…. Read More

Aspiring Online Money Centre bank Marcus by Goldman Sachs Nears UK Launch

Marcus began its existence as a mere online lender seeking to provide consumers with affordable credit all online. But as time moves on, it is becoming more clear that Marcus is being positioned as not just providing loans but becoming the bank of the future:… Read More

Report: Fintech Companies Originated 36% of Total Personal Loans in 2017

This is interesting. According to a report in Bloomberg, online lending has grown impressively in the past seven years. Quoting data from TransUnion, the write states that Fintech firms originated 36% of all personal loans in 2017. This is in contrast to just under 1% in… Read More

Goldman Sachs Presentation Foreshadows Digital Banking Aspirations of Marcus

While Goldman Sachs’  (NYSE:GS) most prominent foray into Fintech started with online lending, Marcus is poised to become so much more in the digital banking arena. As previously reported, Marcus zoomed into online lending fueled by consumer deposits due to an acquisition from several years… Read More

The Economist: Banks Must Become More Agile, Adapt to the Digital Banking Age

The Economist has published a report on digital banking and the need for established banks to become more agile and adapt to the changes in technology. The document has been published with the support of Temenos, a provider of banking and finance software. The Temenos… Read More

Report: Goldman Sachs to Enter Online Lending Industry in UK & Germany as Marcus Expands

Marcus, a fast emerging digital only challenger bank, is poised to enter the UK market and then cross the channel to set up operations in Germany. This is according to multiple reports as the erstwhile online lender leverages its successful US tech in other markets…. Read More

Goldman Sachs Has Big Plans for Marcus and the Future of Retail Banking

Goldman Sachs CEO Lloyd Blankfein told CNBC today they have not “lost their minds” by moving into the highly competitive consumer banking business with Marcus. Blankfein explained that the consumer business has moved to them because the digital world can allow them to scale. “If… Read More

Adam Dell’s Clarity Money is Acquired by Goldman Sachs to be Integrated with Digital Bank Marcus

Goldman Sachs Bank USA has acquired Clarity Money a Fintech founded by CEO Adam Dell. Clarity Money is an app based service that helps consumers better manage their personal finances with machine learning and intuitive design to provide actionable insights. The robo-advisor claims over one million… Read More

Fortress Balance Sheet: Goldman Sachs’ Online Lender Marcus Has Access to $17 Billion in Deposits

Today, during an investor presentation at the Credit Suisse 19th Annual Financial Services Forum in Key Biscayne, Florida, Goldman Sachs CEO Lloyd Blankfein delivered a presentation on his bank’s operations. Buried in the middle of the deck was some interesting perspective on Marcus, Goldman’s foray into… Read More

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