Goldman Sachs

·Jan. 7, 2020

Goldman Sachs to Give Investors More Transparency on Lending Operations

The Wall Street Journal reports that Goldman Sachs is planning to share more information about their different business units. The...

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News Roundup Online Lending USA

·Apr. 10, 2017

Goldman Sachs’ Investment in TransUnion

Goldman Sachs is estimating a 500% return on its initial investment of $550 million in credit data provider TransUnion; the investment began in 2012 when Goldman Sachs bought TransUnion; since then TransUnion has gone public with shares opening at $22.50 on June 25, 2015 and currently trading at $38.23; Goldman Sachs has also earned $50 million from TransUnion's IPO and debt underwriting; additionally, Goldman Sachs is reporting a number of other advantages from the investment including support for its newly launched consumer lending platform Marcus which is a client of TransUnion. Source

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Fintech News Roundup

·Nov. 22, 2016

Goldman Sachs, Santander, Leave R3 Blockchain Consortium

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

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Fintech News Roundup USA

·Feb. 28, 2018

Goldman Sachs’ Push into Consumer Finance

The WSJ reviews Goldman’s push into consumer finance; the company first started offering loans under the Marcus brand which is the new branding for their savings account; Goldman has higher aspirations though with more initiatives in point of sale, wealth management, budgeting tools, insurance, mortgages and car loans; the company is also working with Fortune 500 companies to offer bank accounts as an employee perk; beyond their internal efforts they have also been active in acquiring fintech companies. Source

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Fintech News Roundup USA

·Jan. 8, 2018

Goldman to Allow Cryptocurrency Trading as Early as June 2018

Buying and selling of cryptocurrencies may be available as soon as June, but the bank is still working on how it will store them; Goldman remains one of the few banks who are leading the charge when it comes to trading cryptocurrencies and it remains to be seen whether other banks will follow suit. Source

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Europe Fintech News Roundup

·Mar. 7, 2018

Goldman Sachs to Launch Marcus in the UK

The bank is currently recruiting engineers to help launch the online lending platform Marcus in the UK according to Business Insider who found the job listings; last September Goldman Sachs said the Marcus brand would launch in mid 2018; Goldman Sachs’ Marcus has taken off in the US and have been aggressive in expanding their consumer finance offerings. Source

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Fintech News Roundup USA

·Sep. 28, 2017

Goldman Sachs’ Push into Consumer Banking

Goldman Sachs first entered the market with the acquisition of GE Bank and the subsequent launch of GS bank; Tearsheet explores their other moves in the market more recently in fintech; Goldman Sachs has invested in 23 fintech startups and is the only top ten bank that has hit every category in its investments: blockchain, data analytics, insurance, personal finance, wealth management, financial services software, lending, payments and settlement, real estate and regulatory technology. Source

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Fintech News Roundup USA

·Nov. 15, 2017

Goldman Sachs’ Marcus Crosses $2bn in Originations

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.

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Fintech News Roundup USA

·Jan. 16, 2020