We reported earlier this week on JPMorgan’s secret digital banking project underway in London; this news comes soon after the announcement that their US digital banking offering, Finn, would be shutting down; it could be that JPMorgan has seen Goldman Sachs’ success with their Marcus brand in the UK, $8 billion and 250,000 customers in less than a year, and seeks to emulate it; while some of the UK fintech leaders are skeptical that JPMorgan can see the same success as Marcus, others say it is refreshing to see big traditional players getting serious about creating fully digital solutions. Source.
