Last year, Goldman said it was seeking to gather $125 billion in consumer deposits with a goal of $700 million in pretax income from the business. The bank plans to issue debit cards into mobile wallets, and for offerings that provide customers with real-time access to their spending data.
Goldman Sachs has so far been fairly tight-lipped on what the checking account might look like. In October, Visa Inc. announced it had won a deal to be the network for the digital account’s inaugural debit card.