Goldman Sachs Is Partnering With Walmart to Expand Its Consumer Banking Business
Until a couple of years ago, Goldman Sachs (NYSE: GS) was almost exclusively an investment bank. However, over the past few years it has started to make a big push into the consumer banking side of the business. First, it rolled out the Marcus brand, which offers personal loans and high-yield savings accounts. Then, Goldman jumped head-first into the credit card business by partnering with Apple (NASDAQ: AAPL) to launch the Apple credit card product.
More recently, Goldman introduced an investment platform for everyday Americans, and partnered with Amazon (NASDAQ: AMZN) to provide small business credit lines to merchants. And as if pairing up with Amazon didn't give Goldman enough reach into the e-commerce world, another major partnership was just announced.
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Source Fool.com
