JP Morgan’s smartphone bank eyes new business accounts

JP Morgan’s new UK smartphone bank looks set to launch business current accounts as it seeks to become a challenger to the major high street banks.

The bank posted a job advert on LinkedIn last week for a “head of business operations” for Chase UK, the bank it launched last September. The job, based in Edinburgh, is expected to involve “designing, delivering and leading our business banking operations within the Chase international team”, according to the posting.

The new role looks set to be one of the hundreds more at the bank this year. Sanoke Viswanathan, who is in charge of JP Morgan’s first international retail bank, said last December that Chase already had 800 staff and would increase numbers to more than 1,000 this year.

Chase has hinted at new additions to its bank account, including integrating Nutmeg, the investment platform, and getting into business and mortgage and personal lending, but has not previously mentioned plans for business bank accounts.

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