Marcus Plans to Build Full Digital Bank Offering

Digital banking has taken off … and Marcus by Goldman Sachs is looking to capitalize on this momentum; the firm is looking to expand their offering with an AI-powered digital assistant and a checking account… 

[Marcus:] “Our goal is to deliver a mobile and web experience that allows the consumer to do anything they would otherwise wish to do around their money.”

… the company is not looking to launch a typical checking about, but one that has not yet been seen… “Imagine if there was an AI-powered digital assistant that had all the financial expertise of Goldman Sachs in their brain, and it was, in real time, helping you think about how to optimize your savings account, your checking account, manage your expenses, manage your income, manage your investments.” 

… one of the biggest advantages Goldman has is they do not have legacy technology associated with their consumer business, this allows them to operate on a clean slate when approaching new products.