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, 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
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
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
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
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
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 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
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 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
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
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
Online lending eventually will be the norm, not the exception. As bricks and mortar ebbs away, Fintech is filling the void due to demand and the sheer efficacy of the online lending process. Indicative of this systemic trend is a report this week in WSJ.com… Read More
Meeting a prediction from this past June set by Goldman Sachs CEO Lloyd Blankfein, online lending platform Marcus topped $2 billion in loan originations. Additionally, Marcus reported online deposits of over $5 billion. Deposits and consumer lending have now been combined under a single brand, thus,… Read More
Last year, I boldly predicted 10 Fintech movements that will take place as Earth makes another perfect rotation around our Sun. It’s always fun to look back and see how wrong I was, so let’s stump the chump! Here are my original predictions. Let’s score… Read More
Ron Suber is one of the best known names in the marketplace lending world and a staunch champion of the future of online lending. For many years, Suber was President of Prosper – a leading platform that targets the consumer lending sector – mainly… Read More
Lloyd Blankfein, CEO of Goldman Sachs (NYSE:GS), was interviewed by Jim Cramer on Mad Money this past week. Blankfein spoke broadly about the status of Goldman Sachs (along with the fact he has started to use Twitter). But one topic of interest was an update… Read More
During a “period of recalibration” for Goldman Sachs (NYSE: GS), the diversified financial firm announced Q1 2017 financial results today. Goldman reported net revenues of $8.03 billion and net earnings of $2.26 billion for the first quarter ended March 31st. Diluted earnings per common share… Read More
In the online lending world, there are a handful of people that know everything that is going on. From the good to the not so good, their vantage point is unique. Ram Ahluwalia, CEO and co-founder of PeerIQ, is one of these individuals. Ahluwalia launched PeerIQ in… Read More
Marcus, Goldman Sach’s (NYSE:GS) foray into the universe of online lending, launched late last year. The catch was you had to be “invited” to take out a loan. Management was clearly testing things before the training wheels came off. Today, Marcus is emailing folks to let… Read More
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. If your are interested in reading our Privacy Policy you may read it here. Ok
