American banking giant to launch digital bank in UK

Currently, JP Morgan operates as Chase in the United States consumer banking sector

digital bank

American banking giant to launch digital bank in UK. Source: pexels.com

JP Morgan is looking to launch its digital consumer platform in the United Kingdom, according to CITY.A.M.com.

The investment bank has made Sanoke Viswavathan, former chief administrative officer of technology and operations in its corporate and investment division, as the chief executive of its challenger bank.

The company already secured acceptance to launch its digital banking platform in the United Kingdom.

Earlier in August, the company had appointed 10x Future Technologies and Amazon Web to provide digital and cloud banking infrastructure.

The move to digital banking will be beneficial as it will attract customers who have moved to online products and services as a result of the coronavirus pandemic.

The report reveals that the bank will be chaired by Clive Adamson. It will launch under the Chase brand.

The investment bank has, however, not released any official information confirming the UK personal banking project.

We’ve reported that Raiffeisen Switzerland teamed with CoCoNet to introduce a new service offering. It will provide cash management and payment transaction solutions for all companies, whether large or small. It will also be integrated with a range of functions.

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