Apple Eyes Bringing Financial Services In-House

Apple is working on bringing financial services in-house, codenamed Project Breakout. They aim to develop their own payment processing platform, moving away from partners like Goldman Sachs. While not becoming a full bank, Apple plans to introduce new fintech products, including a buy now pay later service and a subscription model for devices. They are investing heavily in engineering talent and acquiring companies like Credit Kudos to enhance their credit check capabilities. Existing services like Apple Card will continue with current partners, but future products will leverage Apple's new infrastructure.

What is the main goal of Apple's project codenamed Breakout?

• To launch a new credit card

• To bring financial services in-house

• To become a full-fledged bank

• To partner with more banks

Which existing Apple financial services are mentioned as not dropping their current partners?

• Apple Card and Apple Cash Card

• Apple Insurance and Apple Credit

• Apple Pay and Apple Savings

• Apple Loans and Apple Investments

What is one of the new fintech products Apple is working on?

• A digital wallet

• A stock trading platform

• A buy now pay later service

• A new cryptocurrency

What is the purpose of Apple's acquisition of Credit Kudos?

• To create a new payment app

• To expand Apple Card to the UK

• To develop in-house credit check technology

• To launch a new savings account

How is Apple planning to make lending decisions in the future?

• By relying solely on TransUnion

• By using only their own data

• By collaborating directly with credit bureaus

• By eliminating all intermediaries