Finance Breaking news JPMorgan preps early 2021 launch for UK digital bank - Sky last financial news
Breaking-Finance.Com - American banking giant JPMorgan Chase is looking to launch its UK digital challenger in the first quarter of 2021, according to Sky News.
Breaking-Finance.Com - American banking giant JPMorgan Chase is looking to launch its UK digital challenger in the first quarter of 2021, according to Sky News. Rumours of JPMorgan's intention to launch a Chased-branded online lender in the UK have been circulating for a couple of years.The US behemoth is understood to have signed on with Amazon Web Services for its cloud needs and 10x Future Technologies for its digital infrastructure.JPMorgan was rumoured to be planning a sizeable equity investment in 10x, the fintech startup founded by former Barclays boss Antony Jenkins, back in 2019.
. In June it closed its savings account to new customer after an influx of deposits during the Coronavirus pandemic.JPMorgan's previous attempt at offering digital-only banking was short lived, with US mobile brand Finn lasting only a year before being shut down in June 2019.In the UK it will be entering a crowded market, taking on digital challengers such as Monzo, Atom, Starling and Revolut, as well as the traditional high street giants.
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