Business insider opened an account with Marcus to better understand the product; they report on why other financial institutions should...
Making fintech news this week were Silvergate Bank, Klarna, Goldman Sachs, Marqeta, LendingTree and more
Goldman Sachs and Santander have announced they are leaving the R3 Blockchain Consortium; Goldman Sachs was one of the 12 founding members of the Consortium; the reasoning behind the move is unknown however speculators believe it is likely due to solicitation of $150 million from members. Source
Goldman Sachs was reportedly launching a bitcoin trading desk back in 2017-2018 when the crypto markets were at their peak...
In this week’s PeerIQ Industry Update they cover the continued growth in the jobs market with the unemployment rate dropping...
Goldman Sachs said that their loan business would contribute almost half of the $5 billion in revenue growth it is projecting by 2020; the company will put $28 billion towards loans in the next three years in order to grow that part of the business; Revenue growth has remained flat since the financial crisis and trading revenues remain stagnant. Source
Marcus by Goldman Sachs was launched in 2016 and marked an important point in the consumer lending industry as they decided to build their own platform from scratch; Ainsley O'Connell from Fast Company interviews head of Marcus, Harit Talwar; Talwar shares what was attractive about getting into personal loans and details the Marcus product; stated that there were many consumer pain points and Goldman Sachs was confident they could help; Goldman also has several advantages to give them an edge; not only do they have their own balance sheet, but they essentially built a startup, leaning on 147 years of experience; they also had the advantage that there were no conflicts over any legacy consumer businesses within Goldman; the company worked closely with consumers to bring to market a product they want which Talwar discusses in the interview. Source
Ron Shevlin takes a deep dive into the new small business lending partnership announced last week between Amazon and Goldman...
The Wall Street Journal reports that Goldman Sachs is planning to share more information about their different business units. The...
Last week Goldman Sachs launched a new product called GS Select. Before we get into the new product I think...