Goldman Sachs has created a market-ready robo advisor.
The automated platform will represent Goldman's digital entry into the smaller investor market.
The new robo advisor could be introduced to the market via Goldman's Marcus segment, which would help elevate the bank's play to target more retail banking customers.
Marcus isn't the only potential route to market: Goldman is also considering launching its robo tech to financial advisors on the United Capital platform.
Learn more in our Banking briefing [link in bio]
📸 | Getty Images
2 weeks ago
Despite the US being one of the most developed financial ecosystems in the world, a quarter of households in the country make little or no use of mainstream banking products.
Serving this group has long been thought of in terms of corporate social responsibility alone, but the segment now presents a genuine revenue opportunity for tech-savvy banks.
By 2020, Business Insider Intelligence estimates that under- and unbanked consumers will spend $230 billion annually to access financial services.
Learn more in our Fintech and Financial Inclusion report [link in bio]
Offering robust mobile features is critical for UK banks in both attracting and retaining customers.
As data breaches have become rampant across the globe, security and control features garnered strong demand from survey participants.
To access the vast base of mobile-minded customers, financial institutions should identify the mobile features that drive customers' bank selection.
Learn more in our UK Mobile Banking Competitive Edge report [link in bio]
3 months ago
Apple’s first proprietary credit card, which is issued in partnership with Goldman Sachs and entered a limited launch last week, is reportedly approving customers with low credit scores in a move to cast as wide a net as possible.
Seeking out low credit score customers could be a risky move in the current economic climate. Other banks reportedly turned down the Apple Card partnership due to profitability concerns.
Thinking outside the box could help Apple and Goldman attract a wide audience for their card — but they may have to work to garner spend.
Learn more in our latest Payments and Commerce briefing [link in bio].
📸 | Michael Short/Getty Images
3 months ago
Commonwealth Bank of Australia's upgraded mobile app enables greater personalization for its customers via machine learning, deep data analytics, and behavioral science.
The new app, dubbed "CommBank App 4.0," sports features like notifications when a subscription payment increases, advice on what to do with tax return money, alerts about fraudulent transactions, and the ability to have a mobile phone's location tracked – allowing CBA to more easily identify fraudulent transactions.
Now is a good time for Aussie banks to overhaul their mobile offerings, as digitally active Australians are getting highly comfortable with fintech services.
Learn more in our latest Banking briefing briefing [link in bio].
📸 | Prasit Photo
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