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)