JPMorgan Chase & Co (NYSE:JPM) subsidiary Chase said it has over one million UK customers, just 12 months after opening its digital bank in the country.
Chase now holds over £10bn in customer deposits in the UK and has processed approximately 92mln card and payment transactions since it was launched.
The digital bank initially offered a current account available via an app and has added a new savings product in the past six months.
Additionally, it has acquired of the UK-based digital wealth management platform Nutmeg, which will form part of an extended investments offer for its customers.
Sanjiv Somani, UK CEO of Chase and Nutmeg, commented: “We set out to offer customers good value banking products with a straightforward experience delivered through an easy to use app, and we’re excited that consumers have responded so positively to our offer in our first year.
“This is just the beginning and, as we broaden our product offering and fully integrate the investment products offered by Nutmeg, we look forward to playing a wider role in the financial lives of our customers in the future and supporting the communities we serve.”
Over time, Chase intends to expand its offering of banking products, including enhancements to its current account, new savings options and lending products, such as a Chase credit card.