MANTL, which helps banks and credit unions with digital account openings, saw a 700 percent rise in deposit volumes in...
In a letter to the board at OnDeck, Marathon Partners has outlined changes they want to see enacted; Marathon believes OnDeck has put a premium on growing their originations instead of getting costs under control and growing shareholder value; additionally they have been disappointed with OnDeck's corporate governance and executive compensation practices; the private equity firm recommends the lender cut costs to get them under control and seek the sale of the company to a stable partner. Source
While the Fed kept interest rates steady at their meeting this month both Marcus and Ally Financial have decided to...
During their latest earnings call Goldman Sachs revealed their digital bank Marcus brought in more than $35bn in deposits in...
Lloyd Blankfein recently presented at the Credit Suisse 19th Annual Financial Services Forum; Blankfein shared that Marcus has access to over $17 billion in deposits; since the acquisition of GE Capital, retail deposits have grown 90% which gives allows them to access cheap capital; Goldman plans to grow consumer products offered through Marcus. Source
Marcus has originated more than $3bn of loans since inception, recently it has become know that more than 10 percent of the loans were sub prime; they have said this is a natural evolution of the loan business and they are being very selective in approving of applications. Source.
Marcus by Goldman Sachs announced it had bought PFM app Clarity Money, their 16th fintech acquisition in the past three years; the company is looking to create a digital storefront for the Marcus brand; Marcus believes the acquisition will help it to give them a competitive advantage and build revenue. Source.
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
Digital banking has taken off since the pandemic set in and Marcus by Goldman Sachs is looking to capitalize on...
JPMorgan Chase announced plans to shut down their digital only bank less than two years after launching and now other...