8/21, 12:43 PM (Source: TeleTrader)
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JP Morgan to launch UK digital bank in 2021 - report

JPMorgan Chase & Co. is finalizing plans to start offering consumer financial services through a digital bank in the United Kingdom and plans to launch the venture in the first quarter of 2021, Sky News reported on Friday.

According to sources familiar with the matter, the lender will set up the cloud and digital banking infrastructure with the help of Amazon Web Services and other suppliers. The UK digital bank is expected to debut under the Chase brand.

The first reports about the plans for the UK project emerged in February and claimed JP Morgan already had formal talks with local authorities about approvals to enter the market.

Breaking the News / NP