Apple’s savings account surpasses $10B in customer deposits.

Apple’s High-Yield Savings Account Surpasses $10 Billion in Customer Deposits

The partnership between Apple and Goldman Sachs has proven to be a success, with their high-yield savings⁢ account ‌reaching over⁢ $10 billion in​ customer deposits. This innovative offering,⁢ launched in April, allows Apple Card users to earn an impressive annual‍ percentage ‌yield ⁣of 4.15% on‌ their savings accounts.

In response to the industry crisis ⁤earlier this year, U.S. lenders have had to offer‍ higher ⁤rates‍ on ‌customer deposits ‌to​ retain their clients. This ​move aims to prevent customers from moving their​ funds to other high-yield‌ alternatives, as faith in the‍ financial health of banks was shaken. ​Apple’s high-yield savings​ account has ⁢provided a compelling⁤ option for individuals seeking⁣ better returns ‌on their savings.

Expanding its presence in the​ financial technology space, Apple also introduced its “buy now, pay later” (BNPL) service in the United States earlier this year. This move ⁣further solidifies Apple’s commitment to providing⁤ innovative financial solutions to its customers.

(Reporting by Manya Saini in ‌Bengaluru;‍ Editing‌ by Pooja Desai)

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Apple’s⁢ High-Yield⁢ Savings Account Surpasses $10‍ Billion in⁤ Customer Deposits

Apple’s High-Yield ⁢Savings Account Surpasses $10 Billion in Customer Deposits

Cognizant Technology Solutions Forecasts Strong Third-Quarter Revenue

Cognizant Technology Solutions‌ Forecasts ⁤Strong Third-Quarter ‍Revenue