Capital One is a global investment banking firm that provides services in various areas, including financial inclusion, corporate finance, and trading. In January 2021, Capital One eliminated 1,100 technology roles and announced a cut in banking of 1,600 employees from Morgan Stanley, 3,200 from Goldman Sachs, and an undisclosed number from BNY Mellon and Capital One. Capital One also works with KeyBanc Capital Markets, QED Investors, Westpac, JPMorgan Chase, and other banks.
In addition to its banking services, Capital One also offers a range of savings, investments, and loans. Capital One offers a 5% Annual Percentage Yield (APY) on its savings account, with no minimum deposit and an 11-month term. Its Marcus by Goldman Sachs account offers a 4.5% APY with a $500 minimum deposit and a one-year term. CIT Bank’s APY is even higher, at 4.5%, with a $100 minimum deposit and a one-year term.
Capital One’s financial inclusion services include products designed to help people access banking services, including the Capital One Lending Platform, which provides consumer loans to low- and middle-income individuals and small businesses. At Capital One, the bank’s financial inclusion team is responsible for providing banking services to those who may not have access to them.