Reported that Apple is building its own financial services system, is it the goal to break away from Goldman Sachs?

Bloomberg, a major economic newspaper, newly reported that 'Apple is building its own technology and infrastructure such as loan risk assessment, fraud analysis, and credit investigation.' The project, dubbed 'Breakout,' aims to break away from financial companies such as Goldman Sachs, which is affiliated with Apple Card, and provide its own financial services.

Apple (AAPL) Working to Bring Financial Services Tasks In-House --Bloomberg
https://www.bloomberg.com/news/articles/2022-03-30/apple-is-working-on-project-to-bring-financial-services-in-house

Apple Developing In-House Payment Processing Technology for Future Finance Products-MacRumors
https://www.macrumors.com/2022/03/30/apple-in-house-payment-processing/

Apple is building its own payments tech so it can be less reliant on partners --Protocol
https://www.protocol.com/bulletins/apple-payments-fintech-finance

Apple plans to build its own financial infrastructure for payments and lending | Ars Technica
https://arstechnica.com/gadgets/2022/03/apple-plans-to-build-its-own-financial-infrastructure-for-payments-and-lending/

According to Bloomberg, Apple is developing loan risk assessment, fraud investigation, credit information investigation, dispute resolution , interest calculation, asset conversion, transaction approval, data reporting to credit bureaus, raising credit limits, etc. Various systems and infrastructure related to financial services business. As of March 2022, Apple has partnered with financial giant Goldman Sachs on its own credit card 'Apple Card' and regional bank giant Citizens on the installment payment plan ' iPhone Upgrade Program ' offered in the United States. The project, dubbed 'Breakout,' is reportedly intended to break away from these financial companies in the future.

Taking Apple Card as an example, the part that sends transaction information and receives approval from the bank uses a system called ' Core Card ', and Goldman handles loans, credit checks, credit checks, and transaction / payment history processing.・ It is said that Sachs is doing it. The goal of this 'breakout' is to be able to handle the necessary processing that is left to the external system as much as possible.

According to Bloomberg, the postpaid service 'Apple Pay Later,' which is expected to appear in 2022, will be the first service to utilize the breakout system. However, if the repayment period is long, Goldman Sachs will be in charge.

'Apple Pay Later' that can change what you purchased with Apple Pay to installment payment is planned-GIGAZINE

In addition, there is a possibility that the breakout system will be utilized for the 'Apple hardware subscription type sales plan' that was reported to be planned.

Reported that Apple is planning an 'iPhone subscription sales plan'-GIGAZINE

Bloomberg notes that the breakout progress 'is facing some hurdles.' In the worst case, the plan could be postponed or revised.