Marqeta, the global modern card issuing platform, has announced that it has been chosen by Goldman Sachs to partner on its Marcus by Goldman Sachs checking accounts, which will launch in 2021.
Marcus by Goldman Sachs’ upcoming digital checking product will be another cornerstone of the company’s growing consumer portfolio of digital-first banking initiatives. In their mission to build a leading digital consumer bank, checking will continue to help them better address the financial needs of their millions of customers.
Marcus’ digital checking product will take advantage of different capabilities offered by Marqeta’s card issuing platform such as their open APIs and webhooks, as well as developer experience, built from the ground up to power future-forward banking experiences.
“We take pride in providing best-in-class solutions to our customers and embrace the opportunity to work with partners like Marqeta on our journey,” said Omer Ismail, Global Head of Consumer Business at Goldman Sachs. “Leveraging Marqeta’s global platform will allow us to create a personalized, feature-rich banking experience better enabling us to serve our checking customers.”
COVID-19 has continued to accelerate the need for a customer-centric banking experience and the adoption of digital banking offerings. According to Marqeta’s research, over half of consumers say COVID-19 has led them to do their banking primarily online, with the same amount saying they would switch to a digital bank in the future, or have already moved online.
“We’re incredibly proud to work with Marcus by Goldman Sachs to help power this work, which we think is a true validation of the power of our technology,” said Jason Gardner, Founder and CEO of Marqeta. “Our modern card issuing platform helps digital innovators build the sorts of customer experiences that can be industry game-changers, and we’re looking forward to working alongside Marcus to bring a powerful new digital banking experience to life.”