News Clippings

#DigitalBanking / Goldman Sachs is mulling acquisitions to bulk up its UK-based digital savings and lending service Marcus

… the bank believes online activity will be central to future growth. This is why its executives are ruling out any deals that involve acquiring branches… the bank has set an “extremely high” bar for deals. They need to be both large and transformational.

Marcus as a key for Goldman… The CEO wants to move the bank away from a sole reliance on unpredictable investment banking, to more predictable revenues from retail banking products.

Future of PFM… [Adam Dell, head of product for Marcus says] Personal finance management (PFM) tools have shown consumers that “they’re not getting a fair deal”... “Through the use of these new tools people are seeing where their money actually goes”... a combination of a PFM and a banking service is a powerful thing: “It creates synergy between a financial situation a consumer is in and the products and services they can utilise.”

https://www.fintechfutures.com/2021/01/goldman-sachs-mulls-acquisitions-to-bulk-up-marcus/

[tags DigitalBanking, BankTech]