JP Morgan secured regulatory approval to launch its UK digital banking venue in the UK. The company currently operates in the US consumer banking market as Chase, and is preparing to launch in the UK early next year, according to the Telegraph.
In August it was reported that JP Morgan had appointed suppliers to provide cloud and digital banking infrastructure, including Amazon Web Services and 10x Future Technologies. At that time, media reports that JPMorgan Chase is set to launch its UK digital challenger, which includes a range of savings and loan products under its Chase brand in the UK, in the first quarter of 2021.
A move into digital banking would allow the US giant to capture some of the millions of customers that have transferred from high street branches to online services during the coronavirus pandemic.
The bank is expected to be chaired by former Financial Conduct Authority executive Clive Adamson.
In its previous attempt, America’s biggest bank offering for digital-only banking was short lived, with its Finn brand lasting merely a year after launching it in the US in June 2018.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
