Goldman Sachs' digital-only challenger Marcus has signed up more than 250,000 UK customers less than eight months after launch:
report. However, Marcus' rapid ascent in the UK points to a long runway for new entrants into the country's retail banking industry.
And its latest figures highlight it's a much bigger threat. Despite neobanks' impressive customer acquisition, the road to profitability remains a way off, with these players struggling to make money. One reason for this has been an inability, as of yet, to convince customers to up their deposits, including directly from paychecks. For context, Monzo only had £71.
In the US, Marcus began with a consumer loans product before bolstering it with high-yield savings and money management tools. Given its success in the UK, the bank will only likely expand its proposition in the country, which should propel further growth, both in terms of customer numbers and balance sheet.
Incumbents in the UK and afar should take a leaf out of Marcus' strategy. Its market-beating interest rate is undoubtedly a big reason why Marcus has gained traction in the UK. It also highlights a crucial strategy for success: identifying genuine pain points for consumers. Coupling that focus with incumbents' existing advantage of deep resources and consumer trust remains a powerful combination.is driving a shift toward financial marketplaces.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Swarming bees lead to delay at start of Giants-Reds gameSwarming bees lead to delay at start of Giants-Reds game.
Leer más »
A swarm of bees invaded an MLB game, forcing a 20-minute delayFirst pitch was delayed until the swarm moved along.
Leer más »
Goldman Sachs: Stick with stocks immune to a trade warFor investors fearful of a full-blown trade war, here's Goldman Sachs' playbook to tackle the tough market.
Leer más »
Ex-Goldman Sachs banker Ng pleads not guilty to 1MDB chargesFormer Goldman Sachs Group Inc banker Roger Ng pleaded not guilty to criminal ch...
Leer más »
Ex-Goldman Banker in Plea Talks Over 1MDB Charges, Judge SaysA federal judge said the Justice Department is engaged in plea negotiations with a former Goldman Sachs managing director who was extradited from Malaysia, a development that could help prosecutors build a case against the bank and Goldman employees in a Malaysian government fund scandal.
Leer más »
Malaysia sends ex-Goldman banker to U.S. for 10 months to face 1MDB chargesMalaysia has extradited a former Goldman Sachs banker to the United States for 1...
Leer más »
Ex-Goldman Banker Sent to U.S. to Face 1MDB ChargesMalaysian citizen Roger Ng is returning to the U.S. from Malaysia to contest U.S. criminal charges in connection with one of the world’s largest financial scandals.
Leer más »
Goldman Sachs: Here's what could happen next with the US-China trade warGoldman Sachs said chances of a successful deal between the U.S. and China are now lower, but suggested that an increase in tariffs could still be avoided — depending on whether the Chinese bail on their meeting with U.S. negotiators this week.
Leer más »
Malaysia sends ex-Goldman banker to U.S. to face 1MDB charges - reportMalaysia has extradited a former Goldman Sachs banker to the United States to fa...
Leer más »