J P Morgan to enter UK Market

IvanDP

It has, however, faced setbacks in its digital expansion strategy, announcing last year that it was closing Finn, its online-only brand, after poor take-up from consumers.

I can’t see this being as much of a problem as there still seems to be a healthy appetite for digital banking here in the UK.

water4444

IvanDP said:

It has, however, faced setbacks in its digital expansion strategy, announcing last year that it was closing Finn, its online-only brand, after poor take-up from consumers.

I can’t see this being as much of a problem as there still seems to be a healthy appetite for digital banking here in the UK.

You would think, but the disaster of N26 UK shows it is not a given.

stclair

water4444 said:

IvanDP said:

It has, however, faced setbacks in its digital expansion strategy, announcing last year that it was closing Finn, its online-only brand, after poor take-up from consumers.

I can’t see this being as much of a problem as there still seems to be a healthy appetite for digital banking here in the UK.

You would think, but the disaster of N26 UK shows it is not a given.

Wasn’t it because of brexit? 

boo_star

stclair said:

water4444 said:

IvanDP said:

It has, however, faced setbacks in its digital expansion strategy, announcing last year that it was closing Finn, its online-only brand, after poor take-up from consumers.

I can’t see this being as much of a problem as there still seems to be a healthy appetite for digital banking here in the UK.

You would think, but the disaster of N26 UK shows it is not a given.

Wasn’t it because of brexit? 

Not really, they just couldn't be arsed to get a UK banking licence.

SnowTiger

stclair said:

water4444 said:

IvanDP said:

It has, however, faced setbacks in its digital expansion strategy, announcing last year that it was closing Finn, its online-only brand, after poor take-up from consumers.

I can’t see this being as much of a problem as there still seems to be a healthy appetite for digital banking here in the UK.

You would think, but the disaster of N26 UK shows it is not a given.

Wasn’t it because of brexit? 

I don't think so.

According to Wikipedia N26 is due to launch in Brazil soon; and already operates in Norway, Iceland, Switzerland and the US, so it can operate outside the EU if it really wants to.

I think we'll be hearing lots of 'because of Brexit' excuses during the coming months and years.

ZeroSum

stclair said:

water4444 said:

IvanDP said:

It has, however, faced setbacks in its digital expansion strategy, announcing last year that it was closing Finn, its online-only brand, after poor take-up from consumers.

I can’t see this being as much of a problem as there still seems to be a healthy appetite for digital banking here in the UK.

You would think, but the disaster of N26 UK shows it is not a given.

Wasn’t it because of brexit? 

They blamed brexit, but in reality it wasn't. They had a poor take up of their accounts as they never really offered anything for people to do so. Hardly anyone had even heard of them which suggests their marketing wasn't great. And as mentioned their lack of attempting to obtain a UK banking licence which given that they entered the UK market after the referendum is somewhat bizarre. 

water4444

stclair said:

water4444 said:

IvanDP said:

It has, however, faced setbacks in its digital expansion strategy, announcing last year that it was closing Finn, its online-only brand, after poor take-up from consumers.

I can’t see this being as much of a problem as there still seems to be a healthy appetite for digital banking here in the UK.

You would think, but the disaster of N26 UK shows it is not a given.

Wasn’t it because of brexit? 

Brexit might have pushed them to leave sooner, but even without Brexit, they didn't seem to take off. Other EU banks (Triodos for example) have obtained a UK banking license and continue to operate.

N26 was heavily advertised in London, which consisted of hands pointing at a card on hideous backgrounds. Apart from a transparent card what did they offer? I understand from reading a post elsewhere on here (can't remember where) that N26 does much better in places like Germany because nearly all German banks charge for accounts so N26 had something of benefit to Germans and other countries because it was not charing them. But in the UK most banks do not charge and hence N26 offered "nothing" to us. Surely they must have considered this fact and factored in Brexit before launch. Maybe they just had so much money invested they didn't really take it seriously! I can't say the name is much good either.....