JPMorgan Set For Digital Bank Launch In Britain Next Week

JPMorgan Chase & Co JPM is ready to launch its long-planned digital retail bank Chase in Britain from the upcoming week, Reuters reports.
JPMorgan's first overseas retail bank aims to launch its smartphone app, initially offering current accounts on Tuesday.
It planned to expand into lending and investments and other countries, starting with continental Europe.
Britain's consumer-banking market players include digital startups like Monzo Bank Ltd and Starling Bank Ltd, Bloomberg reports. Goldman Sachs Group Inc GS introduced its online bank, Marcus, to the U.K. in 2018.
JPMorgan bolstered its British venture earlier this year by acquiring digital wealth manager Nutmeg Saving and Investment for 700 million pounds ($966 million).
Price Action: JPM shares traded higher by 0.01% at $158.1 in the premarket session on the last check Friday.