US Banks form online services joint venture


Moving money.

Bank of America Corp, JPMorgan Chase and Wells Fargo have teamed up to create a joint venture for online banking services.

With the launch of clearXchange, customers of the three institutions will now be able to move money more conveniently and safely using a mobile number or email address, the banks said in a statement.

No financial terms were provided.

The three banks will own and run Charlotte, North Carolina-headquartered clearXchange, with Bank of America's John Feldman serving as General Manager.

(Reporting by Rachel Chitra in Bangalore; Editing by Anshuman Daga)

US Banks form online services joint venture
Top Stories
Don’t mention digital disruption to David Whiteing
Buzzwords don’t curry favour with CBA's new CIO - it’s all just innovation to him.
Content, cost & constant innovation: How Foxtel plans to take on Netflix
Nell Payne inhabits the “brave new world of blue strings and networking”. Just don't ask her to put a TV screen on your microwave.
Westpac fires starting pistol on core banking upgrade
St George readies itself for move to Celeriti.
Sign up to receive iTnews email bulletins
Latest Comments
Should Optus make a bid for iiNet?

   |   View results