Goldman Sachs lured lead Google engineer to develop API for its services

According to media reports, Goldman Sachs is actively developing its own financial API. For this, the financial giant even lures leading engineers from large technology companies - as early as March, Google’s leading engineer Reinaldo Aguiar will go to work at the bank. At the previous place of work, he was engaged in search mechanisms and created special signals. Prior to collaborating with technology giant, the specialist worked as an engineer at Yahoo, where he also specialized in working with search data.

At Goldman Sachs, Aguiar will participate in the development of the Marquee platform as a managing director. Using the Marquee system, bank customers gain access to financial analytics, data, and can initiate financial transactions using a browser or API. The essence of the approach used is to drive data through the analytical “engine”, and then open access to information for both employees and external clients.

Goldman Sachs is actively recruiting engineers for the development of the project. Since the summer of 2017, at least 20 job ads related to the new development have been posted.

“Historically, API functions were performed by a person who talked with others over the phone, while all the tools, analytics and content were exclusively on the internal platform,” said Marty Chavez, CFO of Goldma Sachs in early 2017. “Now we are abandoning this approach, gathering together all the information that we own and, in fact, changing our entire company using the API.”

A potential advantage of the new project is that having access to Goldman Sachs data and analytical tools will help strengthen the bank's relationships with customers and lead to additional business expansion.

TipRanks Develops . This is a service that automatically analyzes trading signals from analysts and traders, and ranks these “sources” according to the degree of authority in the market.

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