What would you do if you bought a slice of pizza, but the vendor took a bite out of it first?
That’s the image Goldman Sachs wants you to conjure up when you think of a fee-based loan. The investment bank is using humor like that to advertise its latest division, Marcus by Goldman, a personal loan platform with no fees.
Dustin Cohn, head of marketing for the unit, says Marcus by Goldman aims to take the stigma out of loan conversations and marry the security of a traditional bank experience with the modernization of fintech firms.
“We are trying to help people better manage their debt,” he said. “The product is differentiated.”
While millennials may want to solve their financial issues and build their bank accounts digitally, they don’t always like having those discussions. According to the American Bankers Association, 71 percent of the demo would rather go to the dentist than chat with a financial advisor. And nearly a quarter of the group says that not having a mobile app makes it less likely they’ll engage with banks.
Cohn says, however, that Goldman’s platform aims to make interactions more natural.
“We built this with the consumer; the experience, the site experience, we co-created with our consumers,” he said. “It’s intuitive, it’s seamless.”
For full interview [click here] (https://cheddar.com/videos/goldman-sachs-gets-personal).
Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump’s tariffs on its business. Apple’s earnings for the first three months of the year topped Wall Street’s expectations thanks to high demand for its iPhones, and the company said tariffs had a limited effect on the fiscal second quarter’s results. Cook added that for the current quarter, assuming things don’t change, Apple expects to see $900 million added to its costs as a result of the tariffs.
Visa is hoping to hand your credit card to an artificial intelligence “agent” that can find and buy clothes, groceries, airplane tickets and other items on your behalf.
Skift Editor-In-Chief Sarah Kopit discusses how summer travel plans remain uncertain for most as many international travelers are leery to travel abroad. Watch!
