David Solomon, Goldman SachsAdam Galica | CNBCComing quickly to your smartphone: a Goldman Sachs digital checking account. The financial institutio
David Solomon, Goldman Sachs
Adam Galica | CNBC
Coming quickly to your smartphone: a Goldman Sachs digital checking account.
The financial institution is working to launch a digital wealth administration device this yr and a checking account in 2021, Goldman government Eric Lane stated Wednesday on the New York-based financial institution’s first investor day.
“We aspire to be the main digital shopper financial institution,” Lane informed buyers. “We’re beginning with loans, we added financial savings and playing cards, and we’re working to construct out the stability of the digital merchandise suite, together with wealth and checking.”
The brand new digital checking account will probably be delivered through the firm’s new Marcus app, in accordance with a financial institution spokesman.
“We’re attempting to ship a retail financial institution department by your cellphone,” Lane stated, including that the Marcus app will quickly get budgeting instruments and different private finance options. He stated that Goldman needs to double the patron deposits it holds to $125 billion over the following 5 years and to generate $700 to $900 million in pretax revenue excluding reserves.
Shares of Goldman had been down about 1% on Wednesday.