According to CNBC, David Solomon, CEO of Apple’s financial partner company Goldman Sachs, says the Apple Card is the most successful credit card launch ever.
“Since August, we’ve been pleased to see a high level of consumer demand for the product,” he says. “From an operational and risk perspective, we’ve handled the inflows smoothly and without comprising our credit underwriting standards.”
In June Omer Ismail, who leads Goldman Sachs’s Marcus division, said the online bank is using the unique customer-first features of the upcoming Apple Card to gain a toehold in a new market. The Apple Card is a major push by Apple into the financial lives of hundreds of millions of iPhone users. It is also part of Goldman’s broader strategy to appeal to rank-and-file consumers.
