The article discusses Apple's negotiations regarding the Apple Card, emphasizing its potential to rival traditional banks by building effective software and services. Banks are interested in Apple due to its ability to connect with affluent customers, which presents both opportunities and challenges in the evolving financial landscape. The banks' goal is to enhance customer experience and loyalty, while navigating the risk of competition from emerging financial services. The outcome of Apple's negotiations will hinge on their ability to meet market expectations without pricing themselves out.
Apple's capabilities in software and services position it as a contender against traditional financial entities, prompting discussions around collaborating on Apple Card.
Banks seek to connect with affluent customers through Apple Card but face uncertainties regarding pricing and competition from potential market disruptors.
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