JPMorgan to open digital consumer bank in UK

JPMorgan Chase & Co. said on Wednesday it plans to launch a digital consumer bank in the United Kingdom under its Chase brand.

The bank stated it has already employed 400 people and intends to offer a wide range of products within months.

JPMorgan already had a domestic digital-only bank called Finn in 2018, but it was closed just a year after due to a lack of customers. Last year, the company tapped former regulator, Clive Adamson, to chair the new digital bank.

Breaking the News / TF