Goldman Sachs Marcus signs up 50,000 customers in 2 weeks

Screenshot/Will Martin/Business
Insider

• Marcus, Goldman Sachs’ first retail offering in the UK
  signs up 50,000 customers in less than two weeks.
• The bank is offering a savings account with a 1.5%
  interest rate to UK customers.
• User signups have been far above the bank’s “most
  ambitious expectations” it said.

Marcus, the first ever retail product from investment banking
giant Goldman Sachs has signed up around 50,000 customers in the
UK since its launch just over a week ago, the bank said on
Monday.

On September 27, Marcus launched in the UK with little fanfare,
offering customers a savings account paying an interest rate of
1.5% for one-year, with a rate of 1.35% after that. That’s the
best rate on the UK high street for a standard savings account.

The number of signups has been far in excess of what the bank
expected, Des McDaid, who is leading the project in
the UK said last week.

“It’s early days but so far the number of sign-ups for
Marcus by Goldman Sachs has been stunning,” he said.

“Numbers have exceeded even our most ambitious expectations
and our interest rate is clearly a big draw for frustrated savers
who have had to put up with a decade of low interest
rates.”

Named for one of the bank’s founders, Marcus Goldman,
Marcus first launched in the US in 2016, and is part of an effort
to diversify revenue sources as traditional sources of income
lag. 
Marcus
has to date written over $2 billion worth of loans in the US.