Goldman Sachs’ Investor Day 2020 included a 263 page presentation that charted a vision for the bank’s future.
Goldman’s decision to enter the banking-as-a-service field would position it in the same markets as banks like Green Dot and BBVA (most of the other leading embedded finance/BaaS providers lack a banking license and require a sponsor bank to offering products and services).
Goldman actually has its big toe dipped into BaaS with its relationship to Saga, a UK provider of financial services to people over 50. Goldman’s Marcus provides two types of savings accounts, managed by Goldman but opened by Saga.
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