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PitchBook Analyst Note: Getting to the Core of Apple's New Credit Card

1Q 2019

PitchBook Analyst Note: Getting to the Core of Apple's New Credit Card

April 1, 2019

PitchBook Analyst Note: Getting to the Core of Apple's New Credit Card
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Goldman Sachs is furthering its retail banking strategy, as highlighted by its recent announcement to partner with Apple to launch a consumer credit card. Goldman already has 3 million customers from its consumer savings and lending platform Marcus and from the acquisition of PFM Clarity Money. This analyst note explains how the launch of this consumer credit card creates an opportunity for the bank to grow its consumer platform, build brand awareness and add a new core competency.