What does Goldman taking over the GM card book mean for Intelligent Systems?
In case all of that in the title was just gibberish to you: Today, Goldman Sachs won the bidding war for GM's card book, taking over from Capital One. GM's card book is between $2.5bn in size, whereas Goldman's existing card book is about $2.3bn. The deal more than doubles the size of Goldman's card book. Intelligent Systems (INS) main operating subsidiary is CoreCard. Corecard is the core processor for Goldman's card operations. What does a core processor do? Basically all t