Marqeta Announces Partnership With Goldman Sachs on Marcus Checking Offering

Marqeta’s modern card issuing platform will be leveraged by Marcus by Goldman Sachs to build new digital banking offerings.

OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta, the global modern card issuing platform, announced today that it has been chosen by Goldman Sachs to partner on its Marcus by Goldman Sachs checking accounts, which will launch in 2021.

Marcus’ 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 the 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 modern card issuing platform such as their open APIs and webhooks, as well as cutting-edge 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 are excited to partner with Marqeta on our journey,” said Omer Ismail, global head of the Consumer business at Goldman Sachs. “Integrating with Marqeta’s platform will allow us to create a personalized, feature-rich banking experience for 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.¹

“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.”

For more information on Marqeta please visit: www.marqeta.com.

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¹August 2020 survey of 2000 US consumers in partnership with Propeller Research

About Marqeta

Marqeta is the modern card issuing platform empowering builders to bring the most innovative products to the world. Marqeta provides developers advanced infrastructure and tools for building highly configurable payment cards. With its open APIs, the Marqeta platform is designed for businesses who want to easily build tailored payment solutions to create best-in-class experiences and power new modes of money movement. Marqeta is headquartered in Oakland, California. For more information, visit www.marqeta.com, Twitter and LinkedIn.

About Goldman Sachs

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.