Much like other robo-advisors,
Marcus Invest will offer portfolios with low-cost stock and bond ETFs, including Goldman Sachs ETFs, based on users risk tolerance and goals. The Marcus
5 million customers as of last September and already offers a savings account, consumer loans, and a personal finance management tool.
The latest launch broadens Goldman s fintech offering into a new growth area, creating cross-selling opportunities among a wider consumer base. With Marcus Invest, the bank can capitalize on a booming sector over the coming years to drive customer acquisition: Insider Intelligence
expects that $830 billion will be invested in robo-advisors in North America by 2024, up from $330 billion in 2019.
The UK s Open Banking regime has turned three years old.
This marks an opportunity to look back at its successes so far and the challenges it faces post-Brexit.
Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Fintech industry with the Fintech Briefing. You can learn more about subscribing here.
The UK s Open Banking Implementation Entity (OBIE) has marked three years since open banking went live across the UK and Europe, per a press release seen by Insider Intelligence. Since the EU s PSD2 came into effect on January 13, 2018, regulated third-party providers (TPPs), such as fintechs, can integrate with banks APIs to access consenting customers bank data and offer financial products.