JPMorgan Scraps New App Service for Young People

J.P. Morgan Chase is shutting down its mobile banking app Finn, meant to lure millennials with zero fees and emojis, just a year after its nationwide release. Monthly fees will be waived indefinitely for Finn customers, and account numbers won’t need to be changed, according to J.P. Morgan spokesman Pablo Rodriguez. Having both mobile apps and brick-and-mortar stores has been a winning combination so far, as J.P. Morgan, Bank of America and Wells Fargo have garnered a disproportionate share of new deposits in recent years.

Source: www.cnbc.com