JP Morgan folds smartphone bank account one year after launch
Mobile banking service Finn is no more
JP Morgan has announced it is closing down Finn, a smartphone bank account aimed at young adults, Jane Connolly writes.
Reuters reports that Finn accounts – launched across the US in June 2018 – will be absorbed by JP Morgan’s existing Chase app. Account numbers and passwords will not need to be changed.
Finn was designed to appeal to millennials who prefer to carry out transactions via their smartphones. The app allowed customers to open a bank account, make deposits, track spending and set up a savings plan.
According to CNBC, Finn customers have been told their accounts will be moved to Chase on 10 June and monthly fees will be waived indefinitely.
Honestly, Finn sounds stupid. No wonder it died. I’m a millennial, I’m a chase customer. I find their mobile app okay but frustrating. Like it was built by people who don’t understand why I bank. Finn sounds worse. Like a bunch of really boring people sat around and worked out a list of “essentials” — and then spend 30 months descoping it until it was a glorified pocket book. Lols – who is the Muppet who decided we wanted to bank via a mobile… We want to bank the easiest way possible… A mobile phone has nothing to do with that, but be the current unwanted mechanism that makes it the easiest right now…. So myopic.