Goldman Sachs Launches Marcus App

Marcus is different than many fintechs who started off by offering an app-first experience; the bank has finally launched their app after first launching Marcus in 2016; an app was a common comment they had been receiving from customers and Marcus “spent the better part of 2019” creating it; interestingly employees who worked at Clarity Money (Goldman acquired Clarity in 2018) were part of the team who built the app; Marcus currently has $55 billion in customer deposits between their US and UK operations; the bank also shared that Marcus and their credit card business currently contribute less than 3% to overall revenues. Reuters

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