Jordan Belfort has left the chat... Wall Street OG Goldman Sachs is known for investment banking and underwriting IPOs (all while smoking cigars in the Hamptons). Its clients are mostly companies, governments, and billionaires — not retail customers like us. But Goldman has been trying to get more consumer-y and #relatable:
Lizzie McGuire has joined the chat... For existing Marcus customers, the Insights tool is a value-add. Once Marcus makes it available to non-customers, it can use it as a growth strategy. Marcus could also leverage the info it gains on your spending habits from linked accounts to target you with other products. Next up on its retail roadmap: checking accounts and investing.
It's the "buy, learn, apply" acceleration strategy... Goldman could've built a tool like Clarity money itself, but buying it accelerated its roadmap to #relatability. Also: Goldman didn't want to build a whole product from the ground up without knowing if it would succeed. Now it's using its learnings from Clarity to launch insights in Marcus.