a soft launch earlier this summer. It boasts a range of features, including robust personal finance management features and daily cashback rewards.on its consumer business, pouring $275 million into such products this year alone, underscoring its ambition to dominate the consumer space. As Solomon noted,"In decades to come, I expect us to be a leader in our consumer business, just like we are in our institutional corporate business.
Aside from Apple Card, some of Goldman's consumer-facing products include Marcus, its digital-only bank that provides personal loans and an online savings account, and PFM app Clarity Money, among others.4 million customers throughout the US and UK, over $5 billion in consumer loans, and it has more than doubled its deposits annually, reaching over $50 billion. But Goldman incurred $1.3 billion in total losses on its consumer-facing services, primarily Marcus.
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