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Goldman is Banking on Apple partnership in shopper
December 27, 2022
The partnership reflects Goldman’s revamped approach to consumer banking, a business it launched a few years ago to great fanfare that has yet to turn a profit. The bank has abandoned plans to build a full-service consumer bank in favor of providing banking services to wealth-management customers and through partnerships with companies such as Apple.
Banks and technology companies have been in a heated race for years to build a financial super app one that offers banking, payment and investing services. Facebook, now known as Meta Platforms Inc., failed to build a futuristic cryptocurrency network. Google last year abandoned a plan to pitch checking accounts to users of its digital wallet.
“There’s absolutely an opportunity to reshape how people interact with financial institutions,” mentioned Bob O’Donnell, president at TECHnalysis Research, a market-research agency. “Everything is finished on the telephone, so why wouldn’t the monetary administration piece additionally occur on the telephone.”
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/