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JP Morgan to launch digital bank in UK

Monday 23 November 2020 14:19 CET | News

US investment bank JP Morgan has announced plans to launch of its digital consumer platform and challenger bank in the UK.

The company secured regulatory approval to launch its UK digital banking venue in the UK. It currently operates in the US consumer banking market as Chase and is preparing to launch in the UK early in 2021. 

In August 2020 it was reported that JP Morgan had appointed suppliers to provide cloud and digital banking infrastructure, including Amazon Web Services and 10x Future Technologies. 

As City A.M points out, a move into digital banking would allow the US bank to capture some of the millions of customers that have transferred from high street branches to online services during the coronavirus pandemic. In 2018 the company launched digital bank Finn in an attempt to enter the consumer banking market, however it was shuttered a year later after struggling to recruit customers.


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Keywords: JP Morgan, Chase, UK, digital banking, challenger bank, AWS, consumer banking, online banking
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United Kingdom
This article is part of category

Banking & Fintech