JP Morgan Chase plans to launch a digital retail bank in the UK in the coming months. The consumer banking entity will be based in London and will use Chase as their branding name, the bank wrote in its press release.
Customers will avail features tailored to meet the needs of customers in the U.K. through a mobile app. JP Morgan will be penetrating a crowded digital retail banking space in the U.K. as it looks for customer growth.
“The U.K. has a vibrant and highly competitive consumer banking marketplace, which is why we’ve designed the bank from scratch to specifically meet the needs of customers here,” Gordon Smith, CEO of Consumer & Community Banking and co-President of JPMorgan Chase said.
The New York-based bank will be offering its retail services to...