“We’ve been in business for 150 years, but Main Street banking is new for us,” Solomon said in an internal memo obtained by CNBC. “Our partnership with Apple will accelerate customer-centric innovation in the credit card industry and is a testament to the remarkable progress we’ve made in just a few years through Marcus, a growing disruptor in consumer financial services. Today we are helping consumers take control of their financial lives with simple and transparent products, and we have $5 billion in loan balances, more than $50 billion in deposits and 4 million customers — all without the traditional brick and mortar branch model.”
“Apple Card is big, but it’s also a beginning,” Solomon added. “In the decades to come, I expect us to be a leader in our consumer business, just like we are in our institutional and corporate businesses, with customer-centricity at the core of everything we do.”
The co-branded credit card officially launched on Tuesday (Aug. 20) to all U.S. customers, boasting a cash-back policy of up to 3 percent.
Goldman’s employees — including Solomon — actually tested out the card ahead of the rollout and gave it positive feedback.
“As a beta user for the last few months, I’m a happy customer and use the card all the time both through Apple Pay and the titanium physical card,” Solomon noted in the memo.
