Goldman Sachs Rolls Out Marcus, Its Online Personal Loan Platform

The Goldman Sachs Group announced on Thursday (Oct. 13) Marcus by Goldman Sachs, an online platform offering unsecured personal loans to consumers. Named after Marcus Goldman, one of the firm’s founders, Marcus by Goldman Sachs is a new business that Goldman Sachs said benefits from the firm’s 147-year history of financial expertise, risk management and customer service.

In a press release, Goldman Sachs said Marcus provides consumers with a transparent and simple approach to consolidate their high-interest credit card debt. At, creditworthy borrowers can apply for fixed-rate, no-fee personal loans of up to $30,000 for periods of two to six years.

“For many who manage debt payments on high-interest rate credit cards, a straightforward personal loan is a better solution,” said Harit Talwar, head of Marcus by Goldman Sachs, in the press release. “Marcus offers an option for consumers who are searching for a simpler alternative to credit card borrowing, where rates can change and multiple fees can be charged.”

According to Goldman Sachs, the Marcus team listened to thousands of consumers share their experiences managing personal debt. This feedback was central to the design of the Marcus personal loan product and the customer experience. Some of the feedback the team heard included that consumers are tired of hidden fees, are stressed by unexpected changes in interest rates on credit cards and are disgruntled by pre-assigned payment dates and limited payment options — three things Marcus does not have. What’s more, Goldman Sachs said consumers are frustrated with automated machines instead of being able to speak to someone directly when they need assistance. Marcus has U.S.-based, dedicated loan specialists who deliver live, personalized support.

Initially, applications on will require a code that prospective customers will receive by mail. The feedback it receives from the initial group of customers will help refine the Marcus experience. In the coming months, Marcus will offer Goldman Sachs' personal loan product to a broader audience.



The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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