This is MacO-S Ken.

Apple card a beginning for Goldman Sachs, B-Corps want the business roundtable to

be better and 300 listeners are looking for work. It's Monday the 26th of August 2019. I'm Ken Ray and this is

news from Maco-S-KAN. Brought to you by yours truly and supported by people like you patrons

through Patreon find out more and add your support at patreon dotreon.com slash Macoess can. It's tough to think of a

150-year-old financial institution as a disruptor yet that's either the image Goldman Sachs CEO David Solomon has for his firm or the image he wants to project.

CNBC had DJD Saul issuing a note to employees last week,

pumping the success of Applecard and pledging that it's only the beginning of

Goldman's consumer business.

Solomon pointed out the ease with which one can apply for an apple card,

as well as the emphasis it places on privacy and security for the consumer.

As a beta user for the last few months he wrote, I'm a happy customer and use the card all the time, both through Apple Pay and the titanium physical card.

He should be very careful how he handles the titanium version.

As for the card being the start of something, Solomon wrote,

Applecard is big, but it's also a beginning,

with no real legacy technology or a

longstanding consumer business to defend we are positioned to innovate unlike many

others in the industry 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.

While that might bring disruption to mind, Solomon took the label and applied it more explicitly.

Quoting his note again, we've been in business for 150 years, but Main Street banking is new for us.

...