Barclays International have said they would “leverage Barclays’ UK knowledge and expertise” to create a current, or checking, account for its US online bank, which already offers credit cards, savings and loans to 13m customers.
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Barclays to challenge Goldman’s Marcus in US retail banking
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A consumer-focused account could help Barclays boost its $13.6bn of US retail deposits, diversifying the funding of the Barclays International division, which has housed its investment bank and international retail operations since the UK forced large banks to ringfence their domestic retail operations. Mr Rodrigues, who joined Barclays from Citi a year ago, believes the bank can use technology to better effect than existing US players but acknowledges that the “ecosystem has got to progress” before features that are the norm in the UK arrive in the US.
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