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Goldman Sachs, long known as the leading investment bank on Wall Street, is also strengthening its consumer business, in part through partnerships with Apple. Apple’s buy-now-pay-later product will use some of Goldman’s infrastructure, but Apple has said it plans to handle its own credit decisions and make loans. By jumping into interest-bearing accounts, Apple is taking advantage of rising interest rates as the Federal Reserve tries to curb rising inflation. Apple representatives said the savings account will offer a competitive interest rate, with the best rates available, and will be the same for all users.
Goldman Sachs, long known as the leading investment bank on Wall Street, is also strengthening its consumer business, in part through partnerships with Apple. Apple’s buy-now-pay-later product will use some of Goldman’s infrastructure, but Apple has said it plans to handle its own credit decisions and make loans. By jumping into interest-bearing accounts, Apple is taking advantage of rising interest rates as the Federal Reserve tries to curb rising inflation. Apple representatives said the savings account will offer a competitive interest rate, with the best rates available, and will be the same for all users.