While JPMorgan Chase's idea to launch a digital challenger bank was good, Finn lacked the right execution. Here's why:
This is an excerpt from a story delivered exclusively to Business Insider Intelligence Fintech Briefing subscribers.JPMorgan Chase has closed its digital bank, Finn, merely a year after launching it nationwide in June 2018, according to
There wasn't a significant difference between Finn and JPMorgan Chase's conventional mobile banking app. Finn was built on top of the same back-end infrastructure as the bank's conventional mobile banking app. As such, the two looked very similar, potentially not giving customers enough differentiating features to push them to open an account with Finn.
Finn couldn't compare with market-leading features offered by other challenger brands. One reason digital challengers attract customers is that they offer market-leading services. Goldman Sachs' Marcus, for example, offers US customers an interest rate of 2.25% — one of the leading rates in the country — and hasThe bigger picture:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Finn Wolfhard of 'Stranger Things' is the New Face of Saint LaurentHe is following in the footsteps of Keanu Reeves.
Read more »
Lana Condor, Finn Wolfhard, And All The Can't-Miss Looks At The 2019 Movie & TV AwardsFrom Finn Wolfhard's (FinnSkata) Beetlejuice-inspired pants to lanacondor's hidden heart accents, here are all the looks you simply cannot miss from the MTVAwards red carpet
Read more »
'Stranger Things' Star Finn Wolfhard Describes Upcoming Season as 'Classic'Brown changed things up by using the word 'spreading,' while Schnapp called the season 'sad' and Matarazzo declared it to be 'bigger.'
Read more »
MTV Movie & TV Awards: Aubrey Plaza, Dave Bautista, Kumail Nanjiani Among PresentersFinn Wolfhard (FinnSkata), Gavin Leatherwood (gtleatherwood), noah_schnapp and RossLynch added to list of MTVAwards presenters
Read more »
Whiny baby boomers say the golden age of rock and roll is over. Here's why they're wrong.Finding music via the web and streaming services has obliterated not only distance, but time.
Read more »
Here’s Why Your Poop Can Be So Freaking Weird on Your PeriodYes, your poop is different during your period and here's why:
Read more »