Apple Explores Exiting Partnership with Goldman Sachs for Apple Card and Savings Accounts

Apple recently presented a proposal to terminate its collaboration with Goldman Sachs, involving the Apple Card and high-yield savings accounts, within the next 12 to 15 months, as revealed by a source familiar with the matter to CNBC’s Leslie Picker.

 

Apple, Goldman Sachs, Partnership

Should this move materialize, it would mark the conclusion of a prominent partnership between a tech giant and a financial institution, prompting Apple to seek a new financial ally for its popular Apple Card and associated savings accounts. Despite Apple delivering these financial services through its iPhone wallet app, the backend banking operations are currently managed by Goldman Sachs.

 

Goldman Sachs CEO David Solomon attended the grand launch event of the Apple Card in 2019, held at Apple's California campus. However, the partnership has encountered challenges, with Goldman Sachs, under Solomon's leadership, scaling back its consumer banking pursuits due to escalating costs. The bank has also faced regulatory scrutiny regarding refund procedures, billing errors, and allegations of gender discrimination in credit limit determinations.

 

Earlier this year, Goldman Sachs announced its contemplation of "strategic alternatives" for its consumer banking division. For Apple, the Apple Card and savings accounts serve as tools to enhance the iPhone user experience and contribute to the growth of its services business through associated fees. Whether Apple has secured a new financial partner or contemplates substantial changes to its financial products in the event of parting ways with Goldman Sachs remains unclear.

 

An Apple representative emphasized the commitment to customer satisfaction, stating, “Apple and Goldman Sachs are focused on providing an incredible experience for our customers to help them lead healthier financial lives. The award-winning Apple Card has seen a great reception from consumers, and we will continue to innovate and deliver the best tools and services for them.” This proposal was initially reported by the Wall Street Journal, while a representative from Goldman Sachs declined to comment.

 

In this evolving scenario, Apple navigates the possibility of reshaping its financial partnerships to sustain the success of the Apple Card and savings accounts, ensuring continued innovation and top-tier services for its user base.

Comments

Post a Comment

Popular posts from this blog

Unveiling the Mysteries: Exploring “The Book of Clarence” in 2024

Image
In the bustling world of literature, “The Book of Clarence” emerges as a captivating masterpiece that transcends time and space. Written with finesse and brimming with intrigue, this literary gem has garnered the attention of readers worldwide. Let’s embark on a journey to unravel the mysteries within “The Book of Clarence.”   “The Book of Clarence” welcomes readers with open arms, promising a unique narrative that intertwines fantasy and reality. As we delve into its pages, the eloquent prose takes us on a mesmerizing adventure, where every chapter unfolds like a carefully crafted piece of art. This enchanting quality sets “The Book of Clarence” apart in the literary landscape.   Clarence, the enigmatic protagonist of this tale, becomes a symbol of resilience and self-discovery. Through the intricate storytelling, readers find themselves drawn into Clarence’s world, experiencing a rollercoaster of emotions. The book masterfully weaves a narrative that explores the h...
Read more

Widespread Connectivity Issues Impact Thousands of Three Mobile Users in the UK

Image
In a significant disruption, tens of thousands of Three mobile customers in the UK find themselves grappling with a sudden loss of signal on their phones. Downdetector, a platform monitoring website performance, highlights that over 20,000 individuals reported disruptions to their mobile service on a Friday afternoon.   Expressing frustration on various social media platforms, customers lament their inability to make calls, send texts, or access mobile internet services. Three, in response, has issued apologies for the unexpected outages.   With a customer base exceeding 10 million across the UK, Three acknowledges the issue on its website. However, the actual scale of impact remains uncertain, given that those dependent on mobile internet may face challenges reporting the problem.   Initial reports of disruptions surfaced in limited numbers on Friday morning, escalating significantly as the day progressed. Notably, the outages extend beyond Three's direct c...
Read more

Dan Levy's Regrettable Day: Turning Down the Role of Ken in Barbie (Exclusive)

Image
Dan Levy, often recognized as David Rose from the hit show Schitt’s Creek, reflects on the fame and challenges that came with his iconic character. The show, a pandemic sensation that dominated the 2020 Emmys, catapulted Levy into the realms of style and memes, with his TV sister's infamous line, "Ew, David," still echoing in the streets.   While Levy appreciates the enduring connection people have with David Rose, he embraces the occasional mix-up. "If you create something that lives with people to the point where they forget who you are, I will never take offense to that," he affirms.   In an exclusive revelation, the 40-year-old actor discloses that he was on the verge of playing another iconic role – one of the Kens in the highly anticipated 2023 Barbie blockbuster. Unfortunately, he had to decline the offer due to scheduling conflicts.   "Logistically, I could not make it work despite desperately trying to," Levy explains. "So, ...
Read more

Pauly Shore Takes on the Sweatin' Journey as Richard Simmons in New Biopic

Image
Get ready to groove to the beat as Pauly Shore, the renowned actor and comedian, steps into the vibrant shoes of fitness legend Richard Simmons in an upcoming biopic currently in the works at Warner Bros. subsidiary, The Wolper Organization.   This exciting project, sparked by a short film called "The Court Jester" directed and written by Jake Lewis, is set to premiere at Sundance on Jan. 19. Shore takes the lead as Simmons, joined by a stellar cast featuring Tamra Brown as Ellen DeGeneres and Jesse Heiman as David, a television producer on a transformative weight-loss journey inspired by Simmons. Following its Sundance debut, "The Court Jester" will be instantly available worldwide on YouTube.   Expressing his enthusiasm for the venture, Shore shared, “I’m really excited about sharing Richard Simmons’s life with the world. We all need this biopic now more than ever. Simmons represented mental health, getting people in shape, and being his authentic, silly...
Read more

The Thompson Family: A Closer Look at Tristan Thompson’s Brothers – Dishawn, Daniel, and Amari

Image
Tristan Thompson, renowned NBA star and father of four, takes on another crucial role as the proud older brother to Dishawn, Daniel, and Amari. In the wake of their mother Andrea's unexpected passing on January 5, 2023, Tristan assumed temporary legal guardianship of Amari, his youngest sibling living with epilepsy. Despite the recent hardships, family has always been a priority for the Cleveland Cavaliers player.    Family Roots and Work Ethic   The Thompson brothers, Tristan, Dishawn, Daniel, and Amari, hail from hard-working parents – Trevor, a truck driver, and Andrea, a school bus driver. Tristan's dedication and work ethic, evident in his NBA success, were influenced by his parents' commitment to providing for the family. Andrea emphasized the value of hard work, stating, "In life, you have to work hard to receive your blessing."    A Mother's Unexpected Departure   The family faced a tragic turn of events when Andrea passed away due...
Read more

Unveiling Jason Momoa's Unique Approach to Diet for Aquaman and the Lost Kingdom: A Balancing Act

Image
Jason Momoa took a pragmatic approach to preparing for his upcoming role in Aquaman and the Lost Kingdom, hitting theaters on Dec. 22. The 44-year-old actor emphasized the absence of extremes in his regimen, sharing with E! News that he steers clear of calorie counting, opting for a more intuitive approach to fueling his body.   In response to inquiries about his pre-filming diet, Momoa revealed, "Everything. Because you’re burning so many calories, I just eat and consume. I’m constantly moving and work long days." He emphasized the simplicity of his approach, stating, "I just shovel it in, and then work hard. Work hard, eat hard, play hard, just do it."   Contrary to a restrictive food plan, Momoa's strategy revolves around maintaining a flexible diet to support his overall health during physically demanding scenes. The actor clarified that his commitment is not driven by vanity but rather by the necessity to avoid injuries, especially considering the...
Read more

Unleash Extended Battery Life: Activating Energy Saver Mode on Windows 11

Image
If you own a Windows-based laptop, unlocking the potential for prolonged battery life has never been easier. Microsoft introduces the Energy Saver Mode, an innovative feature aimed at enhancing the existing battery-saving capabilities on Windows 11. Table Of Contents   This battery-saving gem is tailored to optimize your laptop's battery life and minimize energy consumption. By toning down certain animations and visual elements while making slight performance adjustments, Energy Saver Mode takes your Windows 11 experience to the next level.   For Windows 11 laptop users, the time to enable this groundbreaking feature is now. Here, we present straightforward steps to activate Energy Saver Mode on Windows 11 laptops. Let's dive in.   Windows 11 Welcomes Energy Saver Mode Before delving into the Windows 11 settings to find Energy Saver Mode, it's crucial to note that Microsoft is gradually introducing this battery-saving marvel in Windows 11 In...
Read more

Embracing Cozy Sustainability: Unveiling Pangaia's Innovations in Eco-Friendly Fashion

Image
Indulging in holiday coziness takes on a sustainable flair with Pangaia, a revolutionary material science company at the forefront of eco-conscious clothing. Initially catapulted into the limelight by celebrities like Bella Hadid, Kourtney Kardashian, Jennifer Lopez, and Justin Bieber sporting its opulent loungewear, Pangaia stands out for using unconventional yet environmentally friendly elements in its designs.   "In 2020, our focus was on crafting sustainable tracksuits, perfectly aligned with the rise of remote work and the growing trend of direct-to-consumer engagement," shares Dr. Amanda Parkes, Pangaia's Fashion Scientist and Chief Innovation Officer, in an exclusive conversation with PEOPLE.   The allure lies in Pangaia's unique approach, utilizing dyes derived from fruits, stuffing puffer coats with wildflowers, and incorporating peppermint to combat odor. Dr. Parkes emphasizes the power of contextualizing nature's wonders in fashion, transformi...
Read more

Top Gun 3 Box Office: Anticipating a Soaring Success with Maverick’s Astounding Rise

Image
In recent news, the buzz around Top Gun 3 is gaining momentum. Reports confirm the development of the third installment in the successful Top Gun franchise, led by none other than Tom Cruise. This news is not just resonating with the actor's dedicated fanbase but is also stirring excitement among box office enthusiasts. The driving force behind this anticipation lies in the impressive numbers achieved by Top Gun: Maverick and the lofty expectations it has set. Let's delve deeper into this cinematic journey that has captured the hearts of audiences worldwide.   The Genesis in 1986! Before we explore the potential blockbuster of 2022, let's rewind to where it all began – the iconic Top Gun of 1986. Produced with a budget of $15 million, this action drama was an unexpected cult phenomenon. Despite mixed initial reviews, the film's breathtaking aerial action scenes garnered immense love from the audience, resulting in a staggering $357.28 million worldwide box offic...
Read more

Kylie Jenner Joins Boyfriend Timothée Chalamet at Wonka L.A. Premiere, Accompanied by Mom Kris (Original Source)

Image
Kylie Jenner stood by her boyfriend, Timothée Chalamet, at his grand Los Angeles premiere, and she wasn't alone—her mother, Kris Jenner, was right there beside her!   The 26-year-old founder of Kylie Cosmetics, alongside her 68-year-old mom, graced the Regency Village Theatre on Sunday night for the debut of Chalamet's latest movie, Wonka, as reported by a reliable source.   According to the insider, Kylie and Kris discreetly slipped into the theater right after the film's opening credits, maintaining a low profile at the event.   Their romance, initially shrouded in speculation since April, gained traction when a tip, received by the celebrity gossip account DeuxMoi, identified Kylie as the "new girl" in Chalamet's life. A week later, TMZ captured images of her Range Rover snugly parked in Chalamet's driveway, confirming the rumors.   In September, during Beyoncé's Renaissance concert at Sofi Stadium, Kylie and Chalamet put all doubts...
Read more