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.