Will Apple take a big bite out of the banks?

In 2019, after months of gruelling work, executives at Apple and Goldman Sachs were gearing up to unveil Apple Card, a landmark move for the iPhone maker’s burgeoning ambitions in financial services.

As the launch date approached, the partners hit a sticking point. Apple, keen to be seen as providing unique value for customers and with a habit of grandiose marketing claims, wanted to peddle the product as the “most secure credit card ever”.