10x Banking was chosen by JP Morgan to partner on is UK digital bank.
In Brief:
Chase was launched last month as a current account offering by JP Morgan in the UK.
It’s now been revealed 10x Banking worked on the platform for two years.
10x, founded by former Barclays boss Antony Jenkins, offers scalable architecture for banking.
What does this mean?
JP Morgan Chase has already been an investor in 10x, and it’s now revealed the firm helped the bank develop its consumer facing offering – which JP Morgan hopes will expand further into lending, investing and mortgages. 10x was chosen so Chase could be built on modern, scalable core banking architecture with accessible APIs.
