Chase UK has seen customer numbers triple over the past 12 months.
The UK digital bank said that it now has over 1.6 million banking customers, up from 500,000 during the same period of 2022.
JPMorgan Chase launched its new digital bank in the UK under the Chase brand in September 2021, going up against the likes of Revolut, Starling and Monzo in the challenger bank market.
Chase is the largest consumer bank in the United States and provides a broad range of financial services to more than 60 million American households.
Chase UK now holds £15 billion in deposits, almost double the amount disclosed in May last year.
“We’re pleased that consumers have responded so positively to our offer and are increasingly using Chase for a broader range of their banking needs,” said Sanjiv Somani, UK chief executive for Chase and Nutmeg. “Our intention is to offer a full suite of banking products over time – including fully integrating the Nutmeg investment products into the Chase app – creating a one-stop-shop for customers to spend, save, invest, or borrow, with Chase.”
The bank launched a new savings account for UK customers last March.
The saver account, which is linked to the Chase current account, is offering rates of 1.5 per cent AER.
Latest News
-
Bank of England governor blocks Reeves Revolut meeting over independence concerns
-
PayPal launches crypto payments service for US merchants
-
Lloyds Bank joins asset finance network that flags suspicious borrowing
-
HSBC requires senior managers in office four days a week as banks tighten remote work policies
-
Mastercard launches A2A Protect to boost safety in UK account-to-account payments
-
Nottingham Building Society appoints Russ Thornton as new CTO
.jpg)
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories