Image source: Marcus.com, media gallery
By Ambhini Aishwarya and C Nivedita
(Reuters) – Goldman Sachs Group Inc is in advanced talks with Amazon.com Inc to offer small- and medium-sized businesses loans in the United States on the e-commerce giant’s lending platform, the Financial Times reported on Monday.
Goldman and Apple Inc in March rolled out a virtual credit card to help build out the Wall Street bank’s consumer business, which also consists of its online bank Marcus.
The Marcus consumer banking brand was launched in 2015 to even out volatile results from businesses such as trading and investment banking.
During Goldman’s investor day last week, Chief Executive Officer David Solomon said Marcus was looking to capture business from smaller lenders who may have less resources to invest in offering better digital services.
Goldman and Amazon did not immediately respond to Reuters’ requests for comment on the FT report.
Reporting by Ambhini Aishwarya and C Nivedita in Bengaluru; Editing by Anil D’Silva and Maju Samuel.