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Goldman Sachs Comments on Apple Card: The Most Successful Credit Card Issuance

via:威锋网     time:2019/10/16 13:04:45     readed:70

Just two months after Apple Card went public, the chief executive of Goldman Sachs, the co-issuer, shared his satisfaction with the launch of the product in an interview today and said he thought it was "the most successful credit card issue in history".

The profitability of Apple card has been questioned. According to reports, before Apple and Goldman Sachs signed the deal, they actually contacted Citibank, but the latter thought the prospect of the new credit card was bleak and gave up the deal.

However, the market feedback so far shows that consumers' interest and awareness of the product is very high and popular; and many media are optimistic about Apple card.

David Solomon, CEO of Goldman Sachs, said: "in just three years, we have raised $55 billion in deposits and issued $5 billion in loans on the Marcus platform. Now we have established a new credit card platform and launched Apple card. We believe it is the most successful credit card issue ever. "

Solomon didn't disclose the details of Apple card's issuance, but said the demand was high and it was able to maintain its underwriting standards:

"Since August, we are happy to see a high demand for the product from consumers. From the perspective of operation and risk, we handled the capital inflow smoothly without affecting our credit underwriting standards. "

As early as the issuance of Apple card, the executives of Goldman Sachs were optimistic about its long-term future facing the financial and consumer fields. Solomon further said that Apple card and other innovative work of Goldman Sachs (such as the next generation electronic trading platform) are important strategies to improve the competitiveness of the company. Apple card is a big project, but it is only the beginning.

 

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