Firms like Oracle and Billtrust are betting companies with smaller, more remote teams will adopt digital transaction systems to ease the burden of paying their vendors.

The Wall Street Journal reported the Fed is investigating Goldman Sachs' Marcus division, the company's effort to reach U.S. consumers that has been scaled back. The New York bank's stock fell 2.5% after the news.

Goldman Sachs provided more details on its pullback from its once-grand ambitions to expand into consumer finance. Though parts of that strategy will remain, the New York bank will halt its personal loan business and postpone offering a checking account for its wealth management customers.

The Platform Solutions group, headed by former chief strategy officer Stephanie Cohen, is building embedded banking solutions for corporate clients.

Traditional banks are focusing on wealth management services in the next wave of digitization as retail banking returns weaken amid a proliferation of online consumer platforms.

Becoming a director can be an important stepping stone for a banker's career. Here's how to get invited — and convince your company to let you accept a board offer.

Rather than trying to reach the masses, which proved to be expensive, Goldman is focusing on marketing its online banking platform to its existing pool of wealth management clients. The investment bank has learned that it's "better to play to our strengths," CEO David Solomon said Tuesday.

An ex-Goldman Sachs Group banker sued the investment bank for around £20.3 million ($22.9 million) to make up for his losing his job after he made whistleblowing allegations about regulatory failures.

Goldman Sachs Group's David Solomon is embarking on his third major reorganization in just four years as chief executive, undoing some of the signature moves he made as recently as 2020.