Even though it does have a lending operation Amazon did not take part in the Paycheck Protection Program directly; but...
Goldman Sachs reported its first quarter earnings on April 18 with few details about its new online lending platform, Marcus; the only mention of the new platform was in the analyst Q&A; the firm said the new platform is evolving slowly and is operating according to plans; the firm reported revenue of $8.03 billion, an increase of 26.7% from the first quarter of 2016; net earnings were $2.26 billion and earnings per share were $5.15; disappointing trading revenue was a point of emphasis for the quarter; investors are interested in more details about Marcus, which has a competitive cost advantage and is reporting potential return on assets of three times the return on assets of the firm as a whole at 3%; as Goldman Sachs progresses further with its retail business expansion, investors will be watching the retail business contribution overall which could help to cover some of its recent shortcomings and give it an edge over its competitors. Source
Making fintech news this week were Silvergate Bank, Klarna, Goldman Sachs, Marqeta, LendingTree and more
Writing in Forbes, Founder and CEO of the Financial Health Network, Jennifer Tescher discusses how stakeholder capitalism has helped to...
Marcus by Goldman Sachs just reached a big milestone from their UK based team, in 8 months they have amassed...
Goldman CFO Marty Chavez said the bank surpassed $2bn in originations, a mark they were looking to reach by year’s end; the portfolio has an average APR of 12 percent, loans have an average length of four years and the typical amount if for $15,000 as reported by Business Insider; the company estimates they will reach $13bn in lending after three years in operation. Source.
Last year will be known for a myriad of events. While the institutionalization of crypto might not make it to...
While banks might have initially been slow to act when it came to embracing digital strategies they are now able...
The new joint credit card is anticipated to be launched next year and will carry the Apple Pay brand; this...
The Linux Foundation has agreed to acquire the Fintech Open Source Foundation (FINOS) and will allow the group to operate...