JPMorgan Chase has announced it will buy US financial aid platform, Frank.
In Brief:
In its continued journey of acquiring FinTechs, JPMorgan Chase is buying US college financial planning platform, Frank.
Frank helps students apply for and negotiate financial aid, finding scholarships.
Frank currently has more than 5,000 students on its platform.
What does this mean?
This is the next step in JP Morgan’s FinTech buying spree, which included its high profile purchase of UK FinTech Nutmeg and launch of its UK retail offering. Frank aims to “deepen relationships” between students and their parents while helping students find the right financial options and educating them around finance.
