Apple pushed further into financial services when it announced Apple Card, a system that puts some of the best features of challenger banks inside an iPhone-integrated package.

How is the industry reacting to the Cupertino spaceship landing in their yard?

The UI of digital everything

The bottom line of Apple’s foray is that it reflects and amplifies some of the big challenges that established financial providers face when grappling digital realities:

• Design is everything.
• User experiences must be as well-designed as any other digital tool.
• Customers want contact.
• Rewards are important, but user experience is everything.
• If you can do it in a bank, you should be able to do it on a phone.
• When every digital service is more or less the same, how do you stand out?
• Privacy matters.

Of course, bringing sophisticated financial products to market is hard.

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