In just three months the digital bank has brought in £5.4 billion of deposits across 100,000 customers; the savings account...
Lloyd Blankfein recently presented at the Credit Suisse 19th Annual Financial Services Forum; Blankfein shared that Marcus has access to over $17 billion in deposits; since the acquisition of GE Capital, retail deposits have grown 90% which gives allows them to access cheap capital; Goldman plans to grow consumer products offered through Marcus. Source
In episode seven of PitchIt: the fintech startups podcast we talk with MANTL Co-Founder & CEO Nathaniel Harley. Bank technology...
It seems like every week there is a new entrant into the US deposit taking space. Clearly there is an...
The competition for deposits continues as Wealthfront has raised the interest rate on their cash account from 2.29% to 2.51%;...
Until last month it was unknown how SoFi, the most successful fintech firm in the US, was going to offer...
By any measure the Goldman Sachs rollout of their Marcus deposit product in the UK has been a resounding success;...
Raisin is looking to expand on their deposit marketplace by offering a term deposit product to European SMEs; this will allow SMEs to earn money on their cash instead of dealing with negative interest rates that have been prevalent across Europe; currently Raisin has enlisted Banco BNI Europa from Portugal, Younited Credit from France and Greenhill Bank from Germany in the product. Source.
A former digital banking executive from Lloyds Bank provides his criteria for the perfect digital bank; first, payments functionality should...
Customers are becoming more demanding as interest rates climb; the average interest rate paid by the biggest US Banks jumped to 0.40% in the third quarter; sophisticated customers are now reconsidering where they hold their cash accounts; Fifth Third is one bank that is raising rates for these types of customers; wealth management deposits have decreased at Bank of America, JP Morgan and Wells Fargo in the third quarter according to Autonomous Research. Source
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