U.S. investment bank Goldman Sachs will launch its digital retail bank Marcus in the U.K. in coming weeks, and the European mainland will follow soon after. A cause for concern for regional banks in Switzerland?
The announcement was received with maximum attention at German newspaper «Handelsblatt». Under the headline of «Goldman Sachs targets savings banks» the report focused on the intentions of the U.S. investment bank. European boss Richard Gnodde announced the bank’s intention to roll out the online-platform «Marcus» in Germany, its third target market.
The U.S. digital retail banking sector has grown rapidly in recent months. The past one and a half years has seen Marcus – the name is an homage to banking doyen Marcus Goldman – broaden its services from consumer credit to savings accounts. Within an 18 month period, the platform attracted more than $20 billion in savings and approved some $3 billion in consumer loans.
http://www.thisismoney.co.uk/money/saving/article-5892691/Meet-Marcus-savings-bank-Goldman-Sachs-attracted-20bn-deposits-US.html