JP Morgan to launch digital banking services for the UK in 2021

The digital bank won’t be the first new challenger to have been launched by a US-based bank. Back in 2018, Goldman Sachs brought its digital offering Marcus to the UK and has since amassed over 500,000 customers who have deposited more than GBP 21 billion in its savings accounts. In the UK, JP Morgan’s challenger will face competition from homegrown digital banks such as Starling, Monzo, and Revolut, who collectively have nearly 17 million customers in the UK.