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Apple Card users received $10 billion in credit from Goldman Sachs Goldman Sachs gave approximately $10 billion in credit to Apple Card users just over one month after the card's full US launch.
Cardholders had $736 million in loan balances at the end of September, suggesting Apple Card has been fairly popular in its nascent stage.
The card's early credit loan performance is still a far cry from those of top banks, however, though those firms have large portfolios of cards to consider.
But Apple's and Goldman Sachs' reported move of approving subprime users for Apple Card could cause its lending numbers to climb quickly and help it compete with comparable credit cards.
Business Insider Intelligence's Daniel Keyes has the full story.
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| | | Electric vehicle manufacturer Tesla's popularity continues to cause growing pains, highlighting the challenges of forgoing the traditional dealership model. Read More → |
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| | | Haven, the health insurance joint venture from Amazon, JPMorgan Chase, and Berkshire Hathaway, expands to cover at least 30,000 more employees. Read More → |
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| | | Google purchased Fitbit for $2.1 billion after more than a month of speculation. We break down how this acquisition gives the tech giant an entry point to the massive employee health benefits market. Read More → |
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| | | Facebook has launched new corporate branding, including a new logo for Facebook Inc., to differentiate the parent company from the social network and publicly clarify what products the company owns. Read More → |
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| | | Robinhood Gold users were able to borrow more money than they should be able to from the startup to trade – giving them "infinite leverage." Read More → |
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| | | Microsoft's Azure Arc product will place the company at the center of an enterprise's hybrid cloud solution as Microsoft looks to gain greater adoption in a multibillion dollar industry. Read More → |
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| | | Monzo has emerged as the commanding UK neobank leader as it rose above holding a 50% share of the market – soundly beating rivals Revolut, Starling, and N26 in the space. Read More → |
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| | | Walmart is expanding its Walmart2World cross-border transfer service to a marketplace model by adding Ria as a provider in addition to MoneyGram, furthering the retailer's financial services push. Read More → |
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| | | Goldman has created a market-ready robo advisor — we think it would be helpful to its Marcus offering, especially if it's combined with human advice for a more personal touch. Read More → |
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| | | Telecommunications startup Tizeti launched 4G LTE in Port Harcourt, in an attempt to build on the success of its low-cost, solar-powered Wi-Fi network. Read More → |
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| | | Tech giants are set to grab up to 40% of the $1.35 trillion in US financial services revenue from incumbent banks. Three of the largest US tech companies — Apple, Google, and Amazon — are particularly encroaching on financial services and threatening incumbents with their size and ability to attract massive, loyal user bases. This report examines the moves that Apple, Google, and Amazon are making to gain a larger foothold in the global financial services industry, details each tech company's threat to incumbents, and outlines potential next steps. Learn More → |
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| | | AI is rocking medical diagnosis with its potential to incite drastic improvements to hospital processes. While early moving hospitals are already extracting value from AI in medical diagnosis, most US hospitals are at the very early stage of the AI transformation curve. Business Insider Intelligence examines the value of AI applications in three high-value areas of medical diagnosis — imaging, clinical decision support, and personalized medicine — to illustrate how the tech can drastically improve patient outcomes, lower costs, and increase productivity. Learn More → |
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| | | Mergers and acquisitions (M&As) in the payments industry reached a record high in 2019. Three deals made up the majority of funding activity: Fiserv bought First Data for $22 billion, FIS acquired Worldpay for $43 billion, and Global Payments scooped up TSYS for $21.5 billion. This report explores the key drivers that are fueling consolidation in the payments space in addition to taking a closer look at the three biggest payments acquisitions we've seen so far this year. Learn More → |
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More US consumers are sharing health-tracking metrics with physicians via digital technology. | | |
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Few consumers in developed markets are banking with neobanks. | | |
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Only 3 new insurtechs entered the market in the first 3 quarters of this year, compared with 12 in full-year 2018. | | |
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