[axaxs]

Yes, perfect comparison. This is super popular nowadays. Fintech startups like Varo, Sofi, Chime, GreenDot, and I think Simple all use the FDIC of their 'partner' banks. IMO not much risk, all my money is in the first two I mentioned.

[reaperducer]

So is this a strategy that Apple could use with Goldman Sachs to turn Apple Card into Apple Bank?

[jumbopapa]

Sure. Basically all these new checking and savings accounts that are coming out, Robinhood, Google, Credit Karma, etc., are actually being serviced by a real bank.