A multiyear plan would bring a wide range of financial tasks in-house, which includes payment processing, risk assessment for lending, fraud analysis, credit checks and additional customer-service functions such as the handling of disputes.
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Apple working to bring more financial services in-house
Part of the project has been dubbed “Breakout” internally, underscoring the idea of breaking away from the existing financial system, according to the people. A representative for Cupertino, California-based Apple declined to comment on the plans.
