How Marcus by Goldman Sachs met its end in 2022
The beginning: Marcus by Goldman Sachs was launched in 2016 as an opportunity for Goldman to break into consumer banking and provide retail customers with a unique digital banking experience from a trusted name.
- In the years that followed, it offered savings products, checking accounts, and personal loans. It partnered with Apple and General Motors to offer credit cards. And it expanded into the UK.
- In 2021, the bank acquired fintech startup GreenSky, which offers home improvement and healthcare loans, in a bid to bulk up its consumer lending. It also partnered with working capital platform C2FO to offer loans that don't require borrowers to designate assets as collateral.
- Also in 2021, Marcus made plans to develop an app for consumers in the UK market which would also include a robo-advisor.
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