Apple has just launched its savings account in the US alongside Goldman Sachs.
👉 Background: Apple is the GOAT of all things hardware and it also has an ecoysystem of software that keeps us locked in. In October last year, Apple announced it would launch both a savings account and a buy now pay later product.
👉 What happened: Now, Apple has just launched its savings account in the US alongside its banking partner Goldman Sachs. It’s offering more than 10 times the US national average interest rate.
👉 What else: The savings account deepens Apple’s offering of financial services products... But more than that, it’s a wake-up call for banks all around the world who have a new competitor.
💡In the digital age, every company has the potential to leverage technology to offer financial products and services to their customers.
💡Apple creates products that not only function well, but are also aesthetically pleasing too. It also happens to have a customer base of over 1.5 billion active users.
💡In this case, they offload all of the underlying responsibility to Goldman Sachs and ensure that Apple is eveeeeen further embedded in our lives.
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