JP Morgan looks set to open digital bank in UK under Chase brand.

London7766551

Chase is an established brand people will trust, far more than Monzo or others. Sure British people might not know much about the American banks, but Chase is known even if limited. I am very much interested in holding an account at Chase. If the account has good features it could become my main account.

I have the feeling most people don't trust digital banks such as Monzo enough to use it as their main account, Chase is established, will get more trust and will therefore be better placed to make a dent in the market. 

gt94sss2

I suspect that Chase are not interested in launching a current account at launch.

 It will almost certainly be savings  products and lending products  first  as it's the case with most new entrants and without a physical high street presence

Thrugelmir

London7766551 said:

Chase is an established brand people will trust, 

A brand that the vast majority will never of heard of.  To make a splash going to have something different in what is already becoming a crowded market. 

adamp87

Thrugelmir said:

London7766551 said:

Chase is an established brand people will trust, 

A brand that the vast majority will never of heard of.  To make a splash going to have something different in what is already becoming a crowded market. 

On the money there. It’s known to those who have affiliation with America or interested in finances.

But the vast majority of the population won’t have a clue.

block10

Looks like this will just be another Marcus intially.

London7766551

Thrugelmir said:

London7766551 said:

Chase is an established brand people will trust, 

A brand that the vast majority will never of heard of.  To make a splash going to have something different in what is already becoming a crowded market. 

I know of Chase and I know many others that do too. I suspect people will soon come to know the brand if they offer a good saving rate.

Thrugelmir

London7766551 said:

Thrugelmir said:

London7766551 said:

Chase is an established brand people will trust, 

A brand that the vast majority will never of heard of.  To make a splash going to have something different in what is already becoming a crowded market. 

I know of Chase and I know many others that do too. I suspect people will soon come to know the brand if they offer a good saving rate.

Banks don't borrow for fun. Raising capital has a purpose behind it. 

London7766551

Thrugelmir said:

London7766551 said:

Thrugelmir said:

London7766551 said:

Chase is an established brand people will trust, 

A brand that the vast majority will never of heard of.  To make a splash going to have something different in what is already becoming a crowded market. 

I know of Chase and I know many others that do too. I suspect people will soon come to know the brand if they offer a good saving rate.

Banks don't borrow for fun. Raising capital has a purpose behind it. 

Yes doesn't it relate to the more money you have the more money you can borrow? But to have too much money means the bank is subject to rules hence Marcus no longer accepting new customers. 

Shakin_Steve

London7766551 said:

Thrugelmir said:

London7766551 said:

Thrugelmir said:

London7766551 said:

Chase is an established brand people will trust, 

A brand that the vast majority will never of heard of.  To make a splash going to have something different in what is already becoming a crowded market. 

I know of Chase and I know many others that do too. I suspect people will soon come to know the brand if they offer a good saving rate.

Banks don't borrow for fun. Raising capital has a purpose behind it. 

Yes doesn't it relate to the more money you have the more money you can borrow? But to have too much money means the bank is subject to rules hence Marcus no longer accepting new customers. 

What???

RG2015

Shakin_Steve said:

vLondon7766551 said:

Thrugelmir said:

London7766551 said:

Thrugelmir said:

London7766551 said:

Chase is an established brand people will trust, 

A brand that the vast majority will never of heard of.  To make a splash going to have something different in what is already becoming a crowded market. 

I know of Chase and I know many others that do too. I suspect people will soon come to know the brand if they offer a good saving rate.

Banks don't borrow for fun. Raising capital has a purpose behind it. 

Yes doesn't it relate to the more money you have the more money you can borrow? But to have too much money means the bank is subject to rules hence Marcus no longer accepting new customers. 

What???

I believe the suggestion is that Marcus in the UK is approaching deposits of £25 bn. which would require them to ringfence funds to separate them from Goldman Sachs investment operations.