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Goldman launches an 'app' that offers competitive financial products

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Goldman sachs He is immersed in his new project. The US investment bank launched last week the application of Marcus, its retail banking subsidiary, through which it intends to offer financial products of your competition. "Customers will see loan options not only from Marcus, but also from other providers," the application's product manager, Adam Dell, confirmed to CNBC.

The goal is to "build the best digital banking experience that any client can have" This is the way Goldman has chosen to increase its retail business, which is very small compared to some of its rivals, such as JP Morgan or Bank of America. "Over time, our ambition is to expand the capabilities of the Marcus application and make that the centerpiece of our consumer-oriented experience," Dell said.

Regarding the own products that it will offer through Marcus, the entity will focus its efforts on the savings and personal loans, to progressively include wealth management, mortgages, car loans or insurance. Also credit cards like those of Apple, the latest retail product of Goldman Sachs.

GOLDMAN TAKES TWO YEARS POWERING THE RETAIL BUSINESS

Accustomed to wealthier customers, Goldman began setting its goal in the retail business when acquired Clarity Money in 2018, next to the million users that had this signature. This company, focused on personal finance management, acts independently, but at some point it will become part of Marcus, as Dell has pointed out.

The entity only offers retail products in the United States, while its business in Europe is institutional, with the exception of the United Kingdom. In October 2018 it was rumored with the landing of Marcus in Spain, although for the moment it has not materialized and it seems that Germany will be the next country of the 'Old Continent' in which it launches this type of products.

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