JPMorgan Set For Digital Bank Launch In Britain Next Week

• JPMorgan Chase & Co (NYSE: JPM) is ready to launch its long-planned digital retail bank Chase in Britain from the upcoming week, Reuters reports.

• JPMorgan's first overseas retail bank aims to launch its smartphone app, initially offering current accounts on Tuesday.

• It planned to expand into lending and investments and other countries, starting with continental Europe.

• Britain's consumer-banking market players include digital startups like Monzo Bank Ltd and Starling Bank Ltd, Bloomberg reports. Goldman Sachs Group Inc (NYSE: GS) introduced its online bank, Marcus, to the U.K. in 2018.

• JPMorgan bolstered its British venture earlier this year by acquiring digital wealth manager Nutmeg Saving and Investment for 700 million pounds ($966 million).

• Price Action: JPM shares traded higher by 0.01% at $158.1 in the premarket session on the last check Friday.

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