Apple is taking a bite out of the financial-technology sector. Digital upstarts like Affirm and Jack Dorsey’s Block should be on high alert. Lenders like Goldman Sachs, however, have less to fear, writes LiamWardProud:
should fret. Bloomberg reported that Apple could fund smaller pay-later loans using its own balance sheet rather than using a partner like Goldman, as it does for credit cards.
consumer, cards and payments business has generated an average return on equity of 16% since 2014, after stripping out intangible assets. Apple’s RoE this year will exceed 100%, according to Refinitiv estimates. Banks’ chief executives and Cook can probably get along.- Apple is developing its own financial-services technology in a bid to reduce the company’s reliance on third-party systems, Bloomberg reported on March 30.
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