Apple Card Savings account rate dips for first time since launch 😳; Nuvei to go private in $6.3B acquisition by Advent International 😳

FinTech is Eating the World, 2 April

Hey Everyone,

Good morning & welcome back to the regular issue of your favorite FinTech newsletter! 👋 Today’s edition is especially interesting as we’re going to look at the Apple Card Savings account that cut the interest rate for the first time ever (what it means for Apple & why it’s brilliant news for Robinhood + a deeper dive into the stock trading FinTech giant & a holistic look at the Apple Card over the last 5 years), and Nuvei which is going private in $6.3B acquisition by Advent International (why it makes sense & what can we expect next). So let’s just jump straight into the fascinating stuff 🌶

Apple Card Savings account rate dips for first time since launch 😳

The news 🗞️ In a surprising move, Apple and Goldman Sachs are set to decrease the annual percentage yield (APY) for the flagship Apple Card Savings Account from 4.5% to 4.4% starting April 3, 2024.

This marks the first interest rate reduction since the account's launch nearly a year ago in April 2023 😳

Let’s take a quick look at this, see what it means, and why it’s brilliant news for Robinhood.