The Daily Dig for Tuesday, June 16

Goldman Sachs to the rescue for consumers in need of small loans

Now we know this alt-fi thing has legs. Goldman Sachs plans to offer regular folk consumer loans, Michael Corkery and Nathaniel Popper report.

Former Goldman Sachs economist says China’s shadow banks getting bum rap

Fred Hu prefers “non-banking lending activity”, and says they have a useful purpose whatever their name is, writes Jame DiBiasio.

Big banks narrowing customer satisfaction gap, smaller fish better innovate

The days of small and mid-size banks enjoying a customer service advantage may be ending. While smaller entities could previously rest on their laurels, they need to invest in technology if they hope to maintain a lead, writes Sheryl Nance-Nash.

New entrants forcing Indian credit card giants to adapt

New companies making good use of technology have caught the eyes of Visa and Mastercard, and they are adapting, an executive tells Shilpy Sinha.

Could millennial banking habits cause Wall Street shift?

Half of millennials are open to getting their financial services from Google or Apple. That is but one tidbit that could cause Wall Street to rethink how they do things, writes Jonathan Marino.

Etsy testing crowdfunding concept

Online marketplace Etsy will test a crowdfunding option that will allow people to raise funds for production. Leslie Josephs reports.