Goldman CEO Says Technology Transformation Will Take Time

Technology investments at big banks like Goldman Sachs will take time to pay off; CEO David Solomon speaking at the Milken Conference told the audience that the tech changes were evolutionary and would take longer than people might think; Goldman’s Marcus has only been around since 2016 and points to the fact that there is a need for digital but that it won’t happen overnight; he went on to say, “One of the big challenges, and one of the reasons why in our business scale matters so much, is the amount of capital you have to spend to have the best technology and be in the best position to serve clients is increasing at a reasonable pace.” Source.

Sign up for our Newsletters

Every morning the LendIt Fintech News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!