A new bank is due to arrive in Britain this autumn, but unlike some of the digital brands that have tried to challenge the established names in recent years, this is a challenger with 200 years of history and a formidable reputation on Wall Street. The arrival of JP Morgan into the retail banking market promises to bring new intrigue to an increasingly competitive sector. Having been challenged by younger rivals, two of the world’s most powerful lenders have built their own digital banks and are sending them across the Atlantic. First came Goldman Sachs with Marcus, an online savings platform that has attracted just over 700,000 British customers in less than three years. Now JP Morgan is poised to open a digital retail bank

Source: The Times May 28, 2021 16:31 UTC