J.P. Morgan to buy stake in UK fintech startup

Monday 1 July 2019 23:32 CET | News

J.P. Morgan Chase has announced being in talks to buy a stake in a banking technology startup 10x Future Technologies.

The startup was founded by former Barclays chief executive officer and the US lender is in talks to buy a sizeable minority stake in the British company that allows banks to retrieve customer data more quickly, supporting faster, cheaper banking services.

A formal agreement between J.P. Morgan Chase and 10x Future Technologies is expected to be signed in the next few weeks.

J.P. Morgan Chase is an US-based multinational investment bank and financial services company headquartered in New York City. J.P. Morgan Chase is considered to be largest bank in the US, and is ranked by S&P Global as the sixth largest bank in the world by total assets as of 2018, to the amount of USD 2.535 trillion.

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Keywords: J.P. Morgan, J.P. Morgan Chase, 10x Future Technologies, fintech, financial technologies, US, North America, UK, Europe, UK fintech startup, Barclays
Countries: World