Goldman Sachs lured away Google’s lead engineer to develop an API for his services

According to media reports, Goldman Sachs Bank is actively developing its own financial API. To do this, the financial giant even poach the leading engineers of large technology companies - as early as March, Google’s lead 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 working with a technology giant, a specialist worked as an engineer at Yahoo, where he also specialized in working with search data.

In Goldman Sachs, Aguiar will be involved in the development of the Marquee platform as a managing director. Using the Marquee system, bank customers have 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 an analytical “engine” and then open access to information for both employees and external customers.
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Goldman Sachs is actively engaged in recruiting engineers for the development of the project. Since the summer of 2017, at least 20 job postings related to the new development have been posted.

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

The potential advantage of the new project is that the availability of access to data and analytical tools of Goldman Sachs will help strengthen the bank’s relationship with customers and lead to additional business expansion.

A similar product develops the company TipRanks . This is a service that automatically analyzes trading signals from analysts and traders, and ranks these “sources” according to the degree of credibility in the market.

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