Is Chase Going Branchless?

  • JJ Hornblass
  • May 17, 2010
  • 1

JP Morgan Chase has around 5,400, but it’s exploring retail banking without them.

It appears as though Chase is looking into expanding its “branchless” banking operations, with a particular eye on agency, or third-party, banking delivery channels. There’s been evidence online of executives in Chase Bank’s product development unit specifically looking into implementing agency delivery channels, “where a third party, who is not a bank, performs banking services on your behalf.”
This is interesting considering that Chase has the third-largest branch network in the nation. Obviously, most of the “branchless” banking focus has been on the developing mobile banking channel, but third-party delivery is a viable retail strategy. And maybe there is something there, if Chase is taking a harder look at it?
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JJ started the first iteration of Bank Innovation back in 2007, and has been working on it ever since. He also serves as President & Chief Executive Officer of Royal Media, Bank Innovation’s parent. He founded Royal in 1995 and oversees all aspects of the New York-based diversified media company. Prior to forming Royal, JJ was on the editorial staff of American Banker, the daily newspaper, and worked as an editor of a business magazine in Hong Kong. As a reporter and editor, he has won journalism awards from the National Press Foundation, Newsletter & Electronic Publishers Foundation, and the Reader’s Digest Foundation. He has a BS in Economics from Yeshiva University and a Master’s from the Columbia University Graduate School of Journalism. He was also a Fellow at the University of Wisconsin-Madison Graduate School of Banking. He lives in New York City with his wife, two daughters, and son. He counts among his accomplishments one New York City Marathon, two New York City Triathlons and the 2010 Father’s Day 5K, the first race he ever ran with his daughters. He can be reached at or 212-564-8972.

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One thought on “Is Chase Going Branchless?

  1. Thank you all for your comments. To a large degree, many of the questions asked in this thread were answered. However, to address the most pointed questions, no, there is no evidence that Chase is doing anything but investigating agency delivery channels. But the evidence that they are investigating such channels is clear.

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