Marcus

Peer to Peer Lending

·Aug. 19, 2016

Goldman Sachs New Online Lending Platform Will be Called Marcus

According to the New York Times the long awaited online lending platform from Goldman Sachs now has a name: Marcus....

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Fintech News Roundup Online Lending

·Jan. 4, 2017

Significant Factors Influencing Alternative Finance in 2017

AltFi highlights four main factors influencing alternative finance in 2017; UK regulatory developments continue to influence the market with new authorizations from the Financial Conduct Authority and ongoing consultation on the crowdfunding market; the small business lending referral scheme began in November with high expectations for increasing alternative lending originations; the launch of Marcus by Goldman Sachs is expected to affect competition and potentially set a precedent for online lending platforms lending from deposit capital; the Article 50 clause, which begins the process for the UK leaving the European Union, is still open for debate with the final action occurring in March; the March results will significantly influence the economic environment in 2017. Source

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News Roundup Online Lending USA

·Mar. 9, 2017

Direct Mail Marketing a Focus for the Marcus Platform

Harit Talwar discussed the new Goldman Sachs online lending platform, Marcus, and six ways the company is striving for a competitive edge in the market at LendIt USA; one of the platform's top marketing initiatives is direct mail marketing which Talwar say consumers are highly responsive to; the firm is also not charging any fees, allowing for one deferred payment and staffing its call center with human agents. Source

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Fintech News Roundup USA

·Apr. 19, 2017

Goldman Sachs Reports First Quarter Earnings

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

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Peer to Peer Lending

·Jun. 26, 2017

The Fastest Consumer Lenders to $1 Billion in Originations

In an interview on CNBC last week Goldman Sachs CEO Lloyd Blankfein shared some news about their consumer lending platform....

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Peer to Peer Lending

·Oct. 13, 2016

The Goldman Sachs Consumer Lending Platform Called Marcus Has Launched

The long awaited consumer lending platform from Goldman Sachs, called Marcus, has launched today. We have written about the Goldman...

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News Roundup Online Lending USA

·Jan. 10, 2017

Marcus Open to All Borrowers

Online lending platform Marcus by Goldman Sachs is now open to all borrowers; the bank launched its lending platform in October 2016 for borrowers receiving an email code; like other marketplace lending platforms it offers low borrower interest rates; one of its leading advantages is that it offers no fees; Goldman Sachs will announce its fourth quarter earnings in January with insight expected on the new platform's business. Source

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News Roundup Online Lending USA

·Mar. 21, 2017

Marketplace Features the Marcus Online Lending Story

Marketplace provides insight on Goldman Sachs' new online lending business discussing the culture and variance from the traditional aspects of the investment bank; one reason for the divergence in culture is the company's focus on building Marcus as a tech startup within the bank; the investment bank's venture has gained considerable industry attention and also attracted talent from leading technology companies including Facebook and Google; it appears to be well positioned in the market with numerous competitive advantages supported by the legacy bank's 147 year history. Source

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