JPMorgan Chase launches first overseas consumer offering in the UK

If this offer of online banking services is well received, the institution may decide to expand it to loan or investment services, or even offer it to other countries in Europe or Latin America. .

US bank JPMorgan Chase, for the first time in its history, will offer services to individuals overseas by launching a mobile application on Tuesday in the United Kingdom under its Chase brand, a source close to AFP told AFP.

If this offer of online banking services is well received, the entity may decide to extend it to loan or investment services, or may also offer it to other countries in Europe or Latin America, the source added. .

deposit account

But the US bank, the top US bank by assets, wants to focus on its new service in the UK for now, which includes a deposit account, and does not detail potential expansion plans.

JPMorgan Chase has never previously offered its retail banking services outside the United States, which account for about half of its revenue. But the establishment already provides investment banking, brokerage and wealth management services in several countries.

The US banking giant also announced in June the acquisition of British automated investment advisory firm Nutmeg to develop its international digital wealth management offering, particularly in the United Kingdom.

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