HomeTop Global NewsJP Morgan Plans to Enter EU Market With Online Banking Platform Chase

JP Morgan Plans to Enter EU Market With Online Banking Platform Chase

JP Morgan has plans to launch its online banking platform Chase in European Union. The first European market on their radar is Germany, according to CEO Jamie Dimon.

There were reports about the expansion of Chase to Europe before, but this is the first time that JP Morgan publicly acknowledged them. Dimon made the confirmation during a recent interview with German media outlet Handelsblatt.

 “It has always been clear to us that we want to introduce Chase not only in the UK but also in Germany and other European countries. We have ambitious plans,” Dimon told Handelsblatt.

JP Morgan is already present in Germany in an advisory capacity, but the bank now wants to dip into a large consumer market in the country.

“In Germany, ‘Chase’ is not yet so well known, but worldwide it is a strong brand. We are also a trustworthy bank with a strong balance sheet — and private customers know that,” Dimon added.

Dimon remained tight-lipped about when Chase might become available in Germany or other European countries.

JP Morgan previously launched the platform in the UK back in 2021 and became the fastest-rising fintech app in the country in 2021. According to the bank’s report, Chase attracted more than one million customers in its first year in the UK and saw 10 billion pounds ($10.8 billion) in deposits.

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