Credit-card competitors have cast doubt on the Apple Card's profit potential. Goldman's Omer Ismail sees the card as a tool to build customer loyalty.
, which charges no fees and boasts consumer friendly features that help customers avoid paying costly interest, is dim.
Omer Ismail, head of consumer digital finance in the Americas for Goldman's Marcus division, isn't sweating it. When asked about the credit-card's prospects Monday at Business Insider's IGNITION: Transforming Finance event Monday, Ismail threw cold water on the notion that providing value and protection for customers wasn't in their best interest.
"When I think about Marcus overall, the idea that doing right by the customer means being less profitable is just not an idea we subscribe to," Ismail said during a conversation withIsmail said they take the opposite view: the only way Goldman, a new entrant in the consumer finance world, is going to build a sustainable competitive advantage is by taking care of and winning over customers.Being the new bank on the block gives Goldman advantages, as well.
We'll get more clues about the Apple Card's potential and popularity with customers when it launches later this summer.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
At its Core, Apple Is No Longer InnovativeApple has built its success upon a steady consumer appetite for buying every iteration of the company’s latest and greatest products. However, with iPhone sales falling, the iconic company is starting to resemble others in the retail industry.
Consulte Mais informação »
G20 agrees to wrap up Big Tech tax rules by 2020The new rules would mean higher tax burdens for large multinational companies but would also make it harder for countries such as Ireland to attract foreign direct investment with the promise of ultra-low corporate tax rates.
Consulte Mais informação »
Here's Goldman Sachs playbook for beating the market if the Fed cuts interest ratesGoldman Sachs is encouraging their clients to prepare for the possibility that the Federal Reserve cuts interest rates later this year.
Consulte Mais informação »
WATCH LIVE: Top execs at Goldman Sachs, JPMorgan, and Morgan Stanley discuss disrupting Wall Street from withinIndustry leaders will break down the hype around AI, big data, blockchain, and crypto, and share how they’re mining value from these opportunities.
Consulte Mais informação »