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Is JPMorgan Chase Eyeing a British Challenger Bank?

Is JPMorgan Chase Eyeing a British Challenger Bank?

JPMorgan Chase (NYSE: JPM) is considering buying a British challenger bank to jump-start the launch of its own digital banking efforts in the U.K., The Times of London recently reported . The bank being considered is called Starling Bank, which is known as a challenger bank because it is a smaller and relatively newer bank that intends to compete with the more established brands, often by focusing on underserved populations. Launched in 2014, Starling has raised hundreds of millions of dollars in private funding, and has acquired 1.8 million customers and roughly 4 billion British pounds in deposits.