JPMorgan Chase has hired 400 people to work on its app-based banking product for the UK market.
In Brief:
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The product will be an online lender with Chase branding.
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The bank says it should be available within “months”.
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It has confirmed a licence has been granted.
What does this mean?
We first reported JPMorgan Chase was looking to launch a challenger bank in the UK in August last year. This will be its first foray into personal banking into the UK market, and since it will be a purely digital offering the bank has hired a large amount of its 400 staff for an Edinburgh-based call centre to ensure customer queries and problems are dealt with. The rest of the staff are for its headquarters in London.
