Goldman Sachs Bank USA has completed the acquisition of Clarity Money, bringing its one million-plus customers to Marcus. Clarity Money is a leading app that helps consumers better manage their personal finances by harnessing the power of machine learning and intuitive design to provide actionable insights.
The acquisition of Clarity Money is integral to Marcus’ vision of creating the leading platform for millions of consumers to take control of their financial lives – offering personalized products to save and borrow, that are simple, transparent and always on the side of the customer. It also expands Marcus’ products and services to help consumers make smarter financial decisions. Clarity Money is free to use and over time will be branded Marcus by Goldman Sachs.
“Consumers want a better way to manage their finances,” said Stephen Scherr, CEO of GS Bank and head of the Consumer & Commercial Banking Division. “Clarity Moneyhas pioneered a consumer-centric approach to personal finance that will help Marcus continueto put power in the hands of consumers.”
Marcus also welcomed Clarity Money’s team of engineers, designers and marketers, led by its founder and CEO Adam Dell, who will join Goldman Sachs as a partner. Adam will continue to lead Clarity Money, and will play an active role on the Marcus senior management team, reporting to Harit Talwar, head of digital finance, and Omer Ismail, chief commercial officer of digital finance.
“We started Clarity Money to help people make better financial decisions,” Mr. Dell said. “I am extremely impressed with the Marcus team and their commitment to transforming financialservices for the benefit of the consumer.”