Goldman moves into retail banking as the industry shifts its focus on the end investor. The company has been in talks with a number of banks about taking over their existing business and expanding it to include more consumer products, including mortgages, credit cards and student loans. They are pooled savings and they are going to be deploying that money," said Kelleher from Better Markets. The new venture offers high-yield online savings for deposits of $1 or more and an online lending project is planned for later this year, also offering competitive rates. In March, it bought Honest Dollar, a robo-start up that makes it easy for employees to set up a retirement account quickly with a picture of their driver's license.
Goldman moves into retail banking as the industry shifts its focus on the end investor. The company has been in talks with a number of banks about taking over their existing business and expanding it to include more consumer products, including mortgages, credit cards and student loans. The new venture offers high-yield online savings for deposits of $1 or more and an online lending project is planned for later this year, also offering competitive rates. In March, it bought Honest Dollar, a robo-start up that makes it easy for employees to set up a retirement account quickly with a picture of their driver's license.