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).
Much like all the upheaval shaking the world, the huge swings rocking Wall Street may feel far from normal. But, for investing at least, this is normal.
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A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
