JPMorgan & Chase Co. is ready to launch its first retail bank in the United Kingdom.
Initially, the digital bank launched its smartphone app offering current accounts on Tuesday. The head of the online venture, Sanoke Viswanathan, informed the Times and Financial Times newspapers on Friday about the bank’s plan. It appeared that the bank plans to expand into lending and investments. Further, they want to expand in other countries if the plan proves its success. However, instead of launching a physical branch, services will only be offered via mobile app.
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The Market Competition:
As a result, the competition is expected to increase since JPMorgan’s is following their US rival Goldman Sachs which has been offering sa...
