Marcus Will Not Suffer the Same Fate as Finn

JPMorgan Chase announced plans to shut down their digital only bank less than two years after launching and now other banks will be asked if their digital ventures will suffer a similar fate; Marcus says they will not face the same question since they are starting this business from scratch and they do not have the same consumer business conflicts; “There are no channel conflicts, no self-cannibalization. We were ready to create something from scratch that our customers are looking for,” explains Omer Ismail, Head of U.S. Consumer Business, to Business Insider; Marcus has had great early traction and built a team that is a third Goldman employees, a third consumer finance employees and a third tech employees. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.