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CTOnews.com July 26 news, Foreign technology media The Information recently released an in-depth blog post, Disclosure of Apple and Goldman Sachs "Break up" reasons.

Since the launch of Apple Card in 2019, Apple has cooperated with Goldman Sachs on financial aspects, followed by Apple Pay Later, and recently Apple Savings, Apple's version of Yu 'e Bao.

But Goldman Sachs believes that the partnership with Apple did not bring enough capital to the company, but caused serious losses.

CTOnews.com translated The Information section as follows:

Former employees at the two companies who worked on the Apple Card project say executives were ill-prepared and encountered resistance to actually integrating Apple's West Coast technology approach with Goldman's New York-style banking culture.

Apple is more focused on trendy technology and product dynamism that appeals to customers and keeps them happy, while Goldman Sachs prioritizes regulatory compliance and profitability.

Apple had a lot of atypical credit card requirements and led to development problems before Apple Card was launched, which included bills sorted with months, instant cashback rewards (not rolled out), and designing physical cards and customer agreements.

The Information also shared an anecdote: Apple CEO Tim Cook was also involved in testing the Apple Card project in the early days, but Goldman Sachs rejected Cook's application, believing that Cook was a high-profile person who was often impersonated, resulting in many problems when marking credit accounts, and ultimately failed to pass the Apple Card application.

CTOnews.com attaches a link to the original text of The Information, which interested users can read in depth.

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