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Chase taps 10x for UK digital bank

Chase taps 10x for UK digital bank

JPMorgan Chase's recently launched UK digital bank was built with 10x Banking, the cloud-native fintech set up by former Barclays chief Antony Jenkins.

JPMorgan Chase is an investor in 10x and has been working with the firm for the last two years to develop its UK digital banking platform, which the vendor says provides a scalable architecture from which to build a wide range of products.

Launched last month with a current account, Chase intends to eventually expand into personal lending, investment, and even mortgages in a bid to "upend the UK banking market".

Sanjiv Somani, COO, international consumer, JPMorgan Chase retail consumer banking arm outside of the US, says: "We chose 10x because we needed a modern scalable core banking platform built on micro-services and accessible via APIs, in order to drive rapid product development and to provide our customers with a world class experience."

In September, the Wall Street giant chose another UK-based player, Thought Machine, to replace its current retail core banking system in the US.

Comments: (1)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 04 October, 2021, 14:03Be the first to give this comment the thumbs up 0 likes

The quoted Mr. Sanjiv Somani is a Director of 10X, per his LinkedIn Profile