JPMorgan Chase to Launch Digital Consumer Banking in the U.K.
JPMorgan Chase (NYSE: JPM) today announced it will offer U.K. consumers a completely new banking choice when it launches a digital retail bank in the coming months. Using the Chase brand, the bank will provide products and features tailored to meet the needs of customers in the U.K., delivered via an innovative mobile app.
“We are bringing Chase to the U.K. because we want to provide customers with a new banking choice – one that will enable them to benefit from a simple and exceptional banking experience, built on the significant capabilities of JPMorgan Chase,” said Gordon Smith, CEO of Consumer & Community Banking and co-President of JPMorgan Chase. “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.”
Sanoke Viswanathan has been appointed CEO of the digital bank having previously been Chief Administrative Officer and Head of Strategy at J.P. Morgan’s Corporate & Investment Bank.
The digital bank is headquartered at Canary Wharf, London, and its customers will be served by a purpose-built customer contact centre in Edinburgh. The business has already created 400 jobs in the U.K., and has more hires planned as it grows. A U.K. based subsidiary of JPMorgan Chase is licensed to operate the business. Its activities are regulated by both the Prudential Regulation Authority and the Financial Conduct Authority.
Chase has a unique opportunity to make a difference for U.K. consumers, by combining the reassurance of an established and trusted bank with a seamless customer experience. The bank intends to offer a range of products starting with a new take on current accounts. Chase’s U.K.-based customer contact centre will be central to the proposition, providing fast to access, personalised service around the clock. The offering is currently being piloted in an internal testing phase, prior to public release.
“Our decision to launch a digital retail bank in the U.K. is a milestone, introducing British consumers to our retail products for the first time,” said Daniel Pinto, JPMorgan Chase’s London-based co-President. “This new endeavour underscores our commitment to a country where we have deep roots, thousands of employees and offices established for over 160 years.”
When considering entry into the U.K., the firm conducted extensive research to identify where it could make an impact for consumers and meet their needs. Even as digital banking has become mainstream, the bank found that the stability and trustworthiness of the banking provider remains a key consideration for consumers.
In the United States, Chase is one of the largest consumer banks serving nearly half of the country’s households, including 55 million digitally active customers. It offers a broad range of consumer banking products and holds several number-one positions including in deposit taking, digital banking and credit card issuance.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.4 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
Patrick Burton, +44 20 7134 9041
Julian Wadley, +44 20 3493 0608
Paul Lussier, +1 212 270 5052
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Temenos and Canadian Western Bank Break the Boundaries of SME Banking with an Explainable AI Digital Banking Solution4.3.2021 16:00:00 EET | Press release
Temenos (SIX: TEMN), the banking software company, today announced that it is partnering with Canadian Western Bank (CWB) on a pioneering innovation to support small- and medium-sized enterprises (SMEs) with financial decision-making and growing their businesses. The new solution, Temenos Virtual COO, is built on Temenos Infinity, the leading omnichannel digital banking product, and leverages Temenos Analytics and Explainable AI (XAI), API-first, cloud-native technology. Temenos Virtual COO will offer relevant insights to accelerate the growth of small businesses and put business owners in control of their companies’ financial destiny. SME owners will be able to simulate different business scenarios with XAI-driven modeling enabling them to identify the best course of action for their business. The new solution will aggregate financial banking and business data to provide a consolidated real-time view of an SME’s financial health, and lighten the administrative burden so that business
Data Presented at the Miami Breast Cancer Conference Show MammaPrint® and BluePrint® Accurately Predict Pathologic Complete Response Rate Regardless of Age4.3.2021 16:00:00 EET | Press release
Agendia, Inc., a world leader in precision oncology for breast cancer, announced new data from the prospective Neoadjuvant Breast Symphony Trial (NBRST) which demonstrate the predictive and prognostic abilities of MammaPrint® and BluePrint®, and underpin both assays’ pre-operative utility in pre-and post-menopausal patients. A poster highlighting these findings will be presented at the 38th Annual Miami Breast Cancer Conference. The poster, entitled Pathologic Complete Response (pCR) Rates According to MammaPrint and BluePrint Results are Consistent Among Pre- and Post-Menopausal Patients, outlines the first age-based analyses of MammaPrint and BluePrint assays in the pre-operative setting. As expected, the data show that pCR rates varied according to molecular subtype, with MammaPrint and BluePrint accurately predicting pCR in patients of all subtypes, regardless of age. This analysis reinforces both tests’ use to better tailor pre-operative treatment and in determining the best timin
Square, Inc. Announces Plans to Acquire Majority Ownership Stake in Tidal4.3.2021 16:00:00 EET | Press release
Square, Inc. (NYSE: SQ) announced today that it has entered into a definitive agreement to acquire a majority ownership stake in TIDAL, the global music and entertainment platform that brings fans and artists together through unique music, content, and experiences. Square expects to pay a mix of cash and stock of $297 million for a significant majority ownership stake, and existing artist shareholders will be the remaining stakeholders. TIDAL will operate independently within Square, alongside the Seller and Cash App ecosystems. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304005346/en/ Photo (from left to right): Shawn “JAY-Z” Carter, Jack Dorsey. Photo credit (from left to right): Raven Varona, Hermione Hodgson. The acquisition extends Square’s purpose of economic empowerment to a new vertical: musicians. Artists are entrepreneurs with a dream and deserve access to systems, tools, and financial freedom to reach those
Wipro to acquire Capco, a global management and technology consultancy to banking and financial services industry, for $ 1.45 billion4.3.2021 15:40:00 EET | Press release
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has signed an agreement to acquire Capco, a global management and technology consultancy providing digital, consulting and technology services to financial institutions in the Americas, Europe and the Asia Pacific. London-headquartered Capco’s clients include many marquee names in the global financial services industry. Over the past 20 years, the company has worked closely with business leaders, including Boards and C-Suites in the banking, capital markets, wealth, asset management and insurance sectors and is widely acknowledged for its deep domain and consulting expertise, risk and regulatory offerings and thought leadership around key industry technology challenges and opportunities. In addition, Capco services clients in the energy and commodities trading sector. Capco has an experienced executive team and over 5,000
Hopin Raises $400 Million to Scale Innovation for Hybrid Experiences4.3.2021 15:30:00 EET | Press release
Hopin, a leading virtual events provider, announced today that it has raised $400M in Series C funding co-led by new investors Andreessen Horowitz and General Catalyst, and existing investor IVP, with participation from returning investors Coatue, DFJ Growth, Northzone, Salesforce Ventures and Tiger Global. The funding follows Hopin’s $125 million Series B funding announced in November 2020. Since then, Hopin has added 30,000 customers including Poshmark, American Express, Hewlett Packard, The Financial Times, and YMCA. Since February of last year, Hopin has raised more than $565 million. Johnny Boufarhat, CEO and Founder of Hopin said: “We are creating a portfolio of products to build the future of live video collaboration and remote community. As we’ve seen, the importance of providing unparalleled virtual and hybrid event experiences has never been greater and this latest funding is a reflection of how critical it is as brands look for ways to connect with people and avenues of grow
New Research Reveals More CROs Taking Action to Meet Urgent Need for Faster Clinical Trials4.3.2021 15:03:00 EET | Press release
Contract research organizations (CROs) are making significant advancements to modernize and speed clinical trials, according to the latest Veeva Unified Clinical Operations Survey: Annual CRO Report. COVID-19 dramatically accelerated the need to execute faster and with greater precision than ever before. Findings from Veeva Systems (NYSE: VEEV) show CROs have taken decisive action to streamline trial execution by adopting new digital strategies and technologies that eliminate information siloes, replace manual processes, and enable trial collaboration. Nearly all CROs surveyed (90%) have major initiatives underway to unify clinical operations, a lynchpin to faster, more efficient research. The efforts to unify extended beyond CROs’ internal systems and processes. Streamlining collaboration and information sharing with research sites and sponsors was consistently cited by CROs as one of the highest priority areas overall and a key driver for the modernization efforts underway. In additi
DeepGreen, Developer of the World's Largest Estimated Resource of Battery Metals for EVs, to Combine with Sustainable Opportunities Acquisition Corporation4.3.2021 15:00:00 EET | Press release
DeepGreen Metals Inc., a developer of lower-impact battery metals from unattached seafloor polymetallic nodules, today announced that it has entered into a definitive business combination agreement with Sustainable Opportunities Acquisition Corporation (NYSE: SOAC), a special purpose acquisition company with a dedicated ESG focus and deep operational and capital market capabilities in the energy and resource sectors. The transaction represents a pro forma equity value of US$2.9 billion (assuming no redemptions) for the combined company, which will be renamed “TMC the metals company Inc.” and operate as The Metals Company upon closing. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304005510/en/ Responsibly Sourcing Battery Metals to Address Looming Critical Shortage for EV Supply Chain DeepGreen is developing a new, scalable source of EV battery metals in the form of polymetallic nodules found unattached on the seafloor i
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom