Goldman Sachs and Its Journey into FinTech: An Overview

Goldman Sachs is a leading global investment banking, asset management, securities, and securities underwriting firm. With *total assets worth $1,089 billion as of March 2020, it is among the US’s top five largest banks. 

Goldman Sachs is strategically expanding its offering by adopting FinTech. Investment banking, trading, and commercial lending have traditionally been the primary service areas of top US banks. Over the past few years, disruptive FinTech has created new value hotspots, leading to an expansion to include digital retail and consumer banking in large banks’ primary service offerings. Digital investments are expected to hit an estimated $449 billion in assets under management (AUM) across the field in 2021.

Goldman Sachs – Moving Toward Stability in Consumer Banking

Goldman Sachs became a bank holding company during the financial crisis. The Wall Street bank moved away from high-risk businesses such as trading, which was once lucrative, and is now looking at more stable areas such as consumer banking. It leverages inorganic growth and FinTech initiatives to diversify its revenue and funding sources. It has swiftly created touchpoints for tens of m …