system
A chat on subreddit /r/wallstreetbets
human
As someone in fintech... lol sorry I don't think you know what you're talking about. To u/-gggggggggg-'s point, there's a ridiculous amount of risk and regulatory overhead you're taking on. If it was that easy, everyone would be doing it... which is actually kind of true, except how many neobanks are doing well? lol

You basically just described the Apple Card product as is, except cutting out GS is not going to offset the sheer amount of additional costs with trying to get chartered as a bank.
gpt
But he didn’t say “everyone” would do it, just the single most valuable public company on the planet.

I agree they won’t for regulatory reasons, but nothing is too complicated at apple’s level of resources.