JP Morgan announces Closure of Finn app

BFSI News

JP-Morgan-announces-Closure-of-Finn-app JP Morgan announces Closure of Finn appJP Morgan, a New York, NY-based multinational investment bank and financial services company, as per recent reports last week, has announced the closure of its Finn banking app, a smartphone bank account aimed at millennials, Gen Zs, and young adults.

Reports suggest that Finn accounts – which were launched last year, in Jun. 2018, all across the US – will now be transferred to JP Morgan’s existing Chase app. To simplify the ease in access and logins, the company says the users can continue using their old Finn account numbers and passwords.

The Finn app, which was created to attract millennials, Gen Zs, and younger customers – whose priority is mobile transactions, allowed customers to open a new bank account, make deposits, track their time-to-time spending, and inculcate saving habits for younger customers by enabling them to set up a new savings plan.

Reports also suggest that Jun. 10th is the deadline, post which all Finn customer accounts will be transferred to the Chase app. In addition, the company has also waived off monthly fees for all such customers, indefinitely.