Goldman Sachs/Des McDaid
Goldman Sachs’ digital savings account Marcus just reached a UK milestone
The US financial giant has captured over 250,000 UK Marcus customers in under 12 months.
Just eight months since launching in the UK, Goldman Sachs’ digital savings account has attracted a quarter of a million customers.
“We’ve passed a quarter of a million customers and just over £8bn in deposits or savings, so for us it’s hugely exciting.”
The account, which offers just a single attractive 1.5% variable savings rate, came to the UK in September 2018 with only a simple online web interface.
McDaid attributed some of Marcus’s success to this streamlined approach which he described as a “simple, straight-forward offering, delivered well.”
Lastly McDaid teased that Marcus is planning new products for 2020, with cash ISAs, joint accounts, and term accounts being considered.
“We haven’t quite decided what our next product will be yet,” he told Yahoo Finance UK.
“It will be what can we deliver in a simple way to bring value to our customers.”
In the US Marcus launched in 2016 and last year had a combined $35bn in assets under management from the UK and US.