US Banks form online services joint venture

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Moving money.

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

US Banks form online services joint venture

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)

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