7 months ago
Goldman launches new online lending strategy for mass affluent
Goldman Sachs Group Inc is launching a new digital platform where customers of other wealth management firms and brokerages can apply for loans, the bank said on Thursday. The platform, called GS Select, will make loans of $75,000 to $25 million using borrowers' investment portfolios as collateral. To find customers, Goldman is partnering with Fidelity Investment's clearing and custody business, which caters to small brokerages and wealth management firms.