Goldman Sachs finally unveiled a mobile app for Marcus

Business Insider | 1/14/2020 | Gregory Magana
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Goldman - Sachs - App - Customers - Consumer

Goldman Sachs finally unveiled an app for customers of its consumer bank Marcus last week, Reuters reports. The app comes a surprising three years after Marcus itself launched in 2016; in the time since, one of the offering's most common customer requests has been for an app, Goldman spokeswoman Kristen Greco said Friday, per Reuters.

Prior to the launch of the app, Marcus customers could only handle transfers and loan payments through Goldman's website. The team that created the app was comprised of software engineers and developers who worked on Clarity Money — a personal finance startup that Goldman acquired in 2018 — and "spent the better part of 2019" on the project, Greco said.

App - Marcus - Customer - Acquisition - Engagement

The app could help Marcus take off by stimulating customer acquisition and engagement. Among customers who are open to using a digital-only bank, it's possible that Marcus' lack of a mobile app for easy account management was a prohibiting factor, but that will no longer be a sticking point following the launch of the new app.

Furthermore, the app is almost certain to be a hit with existing customers, who are gaining a highly streamlined method through which to interact with their...
(Excerpt) Read more at: Business Insider
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