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November 29, 2023

On the web

November 8, 2023

On the web

October 26, 2023

On the web

Opinion: Why Apple Could be the Big Winner in its Rocky Partnership with Goldman Sachs


"The financial alliance between Apple and Goldman Sachs Group, launched in 2019 with the intent of tapping into the consumer finance marketplace, has hit a rough patch. The partnership that birthed Apple Card and its high-yield savings account was reportedly deemed a “mistake” by a Goldman Sachs executive, encapsulating the bank’s burgeoning discontent with the venture​."

October 20, 2023

On the web

October 16, 2023

On the web

June 30, 2023

On the web

June 15, 2023

On the wires

April 14, 2023

On the wires

November 4, 2022

On the web

Goldman Sachs, MSCI, and Coin Metrics Collaborate to Introduce DatonomyTM, a Taxonomy of Digital Assets

Goldman Sachs

“Goldman Sachs, MSCI, and Coin Metrics announced the launch of datonomy, a new classification system for the digital assets market. Delivered as a new data service, datonomy classifies coins and tokens based on how they are used. Designed to provide a consistent, standardized way to help market participants view and analyze the digital assets ecosystem, datonomy will help create an increased level of transparency into how the market is moving and can be licensed for a variety of use cases, such as the review and assessment of portfolio performance and reporting.”

August 4, 2022

On the web

Goldman Sachs, Bank Behind the Apple Card, Says Regulators are Investigating its Credit Card Practices


“Goldman Sachs said that its credit-card business is being investigated by the Consumer Financial Protection Bureau over a range of billing and payments practices. The bank disclosed the probe in a quarterly filing on Thursday, saying that regulators were examining its “account management practices, including with respect to the application of refunds, crediting of nonconforming payments, billing error resolution, advertisements, and reporting to credit bureaus.”  While New York-based Goldman made no mention of its partnership with tech giant Apple in the filing, most of the bank’s $11.84 billion in card loans through the second quarter were from the Apple Card.”

February 16, 2021

On the web

Goldman Sachs Opens Investing App to Anyone With as Little as $1,000


Goldman Sachs Group Inc. took another step toward going mainstream, launching an investing app for customers that want to put at least $1,000 to work.    Investors using the service, which went live Tuesday, can put money into automated portfolios rather than individual stocks and bonds, according to the company. The move expands the Marcus platform, which also offers a high-interest savings account.”

April 10, 2020

On the web

Goldman Sachs, the White-shoe Investment Bank, Launches Installment Loan Business With JetBlue


“Goldman Sachs is taking another step into the world of retail banking with an installment loan product that’s launching with JetBlue Airways . The bank quietly released a website for something called MarcusPay this week, allowing users to break up big-ticket purchases into monthly payments. Loans ranging from $750 to $10,000 are repaid over 12 or 18 months at a fixed rate of 10.99% to 25.99%, with no fees apart from interest, according to the site.”

November 1, 2019

On the web

July 26, 2019

On the web

Apple and Goldman Sachs Credit Card Targeting August Launch Date


Apple and Goldman Sachs ’s hotly anticipated new credit card is now just weeks away from launch, according to a person familiar with the companies. The release will be the culmination of an intense, high-stakes development process for the Silicon Valley giant and the Wall Street stalwart.  The Apple Card is targeted to launch as early as the first half of August. That timing means the project is on schedule for the summer release date that Apple first announced in March. People who own an iPhone will be able to sign up for the card via the Wallet app, which will have built-in Apple Card support as part of the latest iOS 12.4 update.”

June 28, 2019

On the web

Goldman Sachs Explores Creating a Digital Coin Like JPMorgan’s


“Goldman Sachs Group Inc.’s chief executive officer told France’s Les Echos newspaper that he’s “absolutely’’ looking at digital currencies and said Goldman is conducting “extensive research’’ on tokenization, the process for transforming currencies or assets into tradeable digital contracts that live on a blockchain.    “Assume that all major financial institutions around the world are looking at the potential of tokenization, stable coins and frictionless payments,’’ said Solomon.    JPMorgan Chase & Co. said in February it developed its own stable coin, JPM Coin, for its clients to use in cross-border payments. Facebook Inc. this month unveiled a new coin for payments called Libra which it plans to launch next year.”

March 25, 2019

On the web

Apple Launches Credit Card, Subscription Services for News, Video Games

Wall Street Journal (paywall)

“The unveiling of the Apple Card marks a major expansion of the company’s foray into financial services, begun with Apple Pay. Customers will be able to sign up for the Apple Card on their iPhones and begin using it for purchases within days, the company said. It will offers 2% cash back on purchases and uses machine-learning on Apple’s devices to organize people’s spending behavior into weekly and monthly summaries. Customers can receive a physical, titanium version of the card to use in locations where Apple Pay isn’t yet accepted.”

February 25, 2019

Top Post

Apple, Goldman Tie-Up Is Latest Way for Silicon Valley to Reshape Wall Street

Wall Street Journal (paywall)

Citigroup Inc., JPMorgan Chase & Co. and others pitched their services, the people said. Apple instead went with a name little known on Main Street: Goldman Sachs GS -0.18% Group Inc. The elite investment bank will soon roll out an Apple credit card that will sync with an iPhone app, The Wall Street Journal reported last week. The card is part of a broader partnership between Apple and Goldman to offer financial advice and products to millions of iPhone users.”

October 9, 2018

On the web

Goldman Sachs is scaling back expectations for the buzzy 2-year-old service its new CEO is relying on, and it highlights a major concern with the economy

Business Insider

“Goldman Sachs is cutting a key target for its consumer lending platform Marcus, reflecting the firm’s growing concerns about the consumer debt market, according to a new report. Goldman has scaled back loan originations for 2019 for Marcus, according to a Bloomberg report on Monday which cited anonymous sources.”

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