Sources close to the project tell Sifted the new bank is now set for launch in September
Bet it’s shite
I’m looking forward to finding a new home for all my money.
While Starling’s Anne Boden tells Sifted she’s not scared of the competition, Chase UK arguably offers a triple threat. It’s planning to offer more wealth-management features than the fintechs, it’ll boast a modern tech stack to outpace the incumbents and it’s supported by the colossal balance sheet of America’s largest bank
Anne may have to switch her shawl for a cape
The card is a dark blue, featuring the Chase logo on the right, and the user’s name is printed in silver on the bottom. There is no number printed on the card itself, which is contactless and metallic.
I want this card
The card does sound like it might look nice - I wonder if it will actually be metal or just shiny plastic.
Also I wonder if it will be Mastercard or Visa.
Definitely shiny plastic. They’ll just do some effect like Curve does on its plastic cards to make it look a little ‘metallic’ if you’ve never seen metal, or metallic paint, before in your life.
Clearly the Child & Co card will always be the best though
They confirm it’s called Chase UK.
I just knew this would be the name, there was no way they were ever going to go for a “quirky” name, as some had speculated.
I suspect they have plans to roll out in Ireland and Europe too… Would make sense to carry the Chase brand as they have global brand recognition
They may well do, although I would expect them to wait a bit to see how successful the UK venture is before branching out further.
This was announced back in Jan.
It was announced but the sifted article gives a lot of detail we haven’t heard before
This sounds good, I’d have some of this.
What chances are we giving this of succeeding? Surely all the odds are stacked against them.
Depends how much money they’re willing to lose and for how long
A starter upper challenger just offering banking? yes I’d agree
JPMorgan? I’d say their chances of success are very high
I think what might make the difference here is that they seem to be ready to launch with a more-or-less feature complete product; it will therefore be more like Starling’s launch than Monzo’s.
I’d say a decent feature complete product has a good chance of picking up customers, but it’s probably too late to launch an in-progress beta product now.
They’ve also said they’re aiming for wealthier clients with this offering. Realistically they’re competing with the traditional banks but I also think Starling have more to worry about than Monzo do here
This is probably it. Their app apparently won’t offer anything novel and they are an overseas name that the average UK person hasn’t heard of. I’m struggling to see what will make people flock to them. Meanwhile Starling and Revolut are well established and have already become profitable.