{"id":28963,"date":"2024-01-18T06:00:24","date_gmt":"2024-01-18T12:00:24","guid":{"rendered":"https:\/\/bankbeat.biz\/?p=28963"},"modified":"2024-02-01T08:27:08","modified_gmt":"2024-02-01T14:27:08","slug":"how-a-purpose-built-digital-brand-can-expand-market-share","status":"publish","type":"post","link":"https:\/\/bankbeat.biz\/how-a-purpose-built-digital-brand-can-expand-market-share\/","title":{"rendered":"How a purpose-built digital brand can expand market share"},"content":{"rendered":"
In the pursuit of deposits, some financial institutions are exploring a distinct digital brand. Marcus by Goldman Sachs is an example of a \u201cpurpose-built\u201d brand connected to an established bank. Goldman Sachs decided it wanted to attract more retail customers and created Marcus to help them do that.\u00a0<\/span><\/p>\n This approach offers a lot of room for exploration and growth. You don\u2019t need to throw away the credibility and balance sheet of your current institution to spin up a new brand. It\u2019s an opportunity to start fresh, using the expertise from your existing institution to build a nimbler, more innovative one. The magic of digital banking allows both realities to exist without harming either one.<\/span><\/p>\n