JPMorgan Chase bought the college financial-planning platform Frank, the latest in a string of acquisitions the largest US bank has made this year to compete with both big technology firms and fintech upstarts.
Frank will help JPMorgan bolster its relationships with college students, the New York-based bank said in a statement Tuesday. The platform, which offers a streamlined financial-aid application process as well as online courses, serves more than 5 million students at more than 6,000 higher-education institutions. Financial terms of the deal weren’t disclosed.
“We want to build lifelong relationships with our customers,” Jennifer Piepszak, co-head of consumer and community banking at JPMorgan, said in the statement. “Frank offers a unique opportunity for deeper engagement with students.”
JPMorgan Chief Executive Jamie Dimon warned shareholders earlier this year that the banking industry’s disruption by technology has arrived. I have pledged to “get faster and be more creative,” with the firm since announcing a series of related acquisitions. Earlier this month, JPMorgan said it reached a deal to acquire restaurant-guide company the Infatuation, a restaurant-guide company.
Read Also
- Paper House 5: Producer Reveals Why Nairobi Died Before Season 5 Aug 26, 2021
- Technical inspection engines: update – Motokicx Aug 17, 2021
- After having asked and obtained permission to go home to see his daughter born, the champion returns to the European championshi Jun 30, 2021
- Following the Tour from the air Jul 16, 2021
- 30 years of texting: How texting went from a technological revolution to a has-been tool Dec 2, 2022
- Indonesia: 6-year-old boy rescued from rubble two days after quake Nov 25, 2022
- Hot Sale: how to avoid falling for scams when shopping online May 26, 2022
Frank was founded in 2017 by Charlie Javice, who was 24 at the time, with the goal of making college more affordable for millions of Americans. She will continue to lead Frank and become head of student solutions on JPMorgan’s digital products team.