In a strategic move, Apple has proposed terminating its credit-card and savings account partnership with Goldman Sachs within the next 12 to 15 months, potentially concluding one of the most prominent collaborations between a tech giant and a financial institution, sources told CNBC’s Leslie Picker.

Bull Spotlight

  • Enhancing Customer Experience: Apple’s focus on delivering an exceptional customer experience remains unwavering, as seen with the acclaimed Apple Card.
  • Innovation in Financial Services: Transitioning to a new financial partner could pave the way for innovative features, aligning with Apple’s commitment to continuous improvement.
  • Flexible Business Approach: Apple’s willingness to explore alternatives demonstrates a flexible business strategy, ensuring optimal partnerships for sustained success.
  • Strengthening Services Business: The move allows Apple to reevaluate and strengthen its services business, catering to the growing demand for integrated financial solutions.

Bear Spotlight

  • Challenges with Goldman Sachs: The partnership has encountered challenges, including regulatory scrutiny and Goldman Sachs’ retraction from consumer banking ambitions.
  • Regulatory Scrutiny: Goldman Sachs faced regulatory scrutiny related to refund processes, billing errors, and allegations of gender discrimination in credit limit determinations.
  • Potential Disruption: Transitioning to a new financial partner may pose operational challenges and disruptions for Apple’s credit card and savings account services.
  • Uncertain Future Plans: Apple’s next steps remain uncertain, including whether it has identified a new partner or is considering significant changes to its financial products.

Apple’s proposed separation from the Goldman Sachs partnership signifies a potential shift in its financial services strategy. While uncertainties loom, the move reflects Apple’s commitment to delivering unparalleled financial tools and services to its users, emphasizing innovation and adaptability.


Q: What prompted Apple to consider ending its partnership with Goldman Sachs?
A: Apple’s decision stems from various challenges, including regulatory scrutiny and Goldman Sachs’ shift away from consumer banking ambitions.

Q: How might this impact Apple Card users?
A: The impact on users depends on Apple’s next steps; a transition to a new financial partner could bring potential enhancements or changes to the existing services.



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