Challengers banks land £280m for SME focus

JP Morgan pushes ahead with digital bank

24 Nov 2020

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

It has been announced they secured regulatory approval to launch its UK digital banking venue in the UK. It currently operates in the US consumer banking market as Chase. Early 2021 has been earmarked for the launch.

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.

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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