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Rental payments business: WF has Bilt; Chase wants to build out Story

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NoMoreE46
Community Leader
Valued Contributor

Rental payments business: WF has Bilt; Chase wants to build out Story

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Dinosaur
Moderator Emeritus

Re: Rental payments business: WF has Bilt; Chase wants to build out Story

JP Morgan Chase is on the move.

Remember when they said it is time to expand and now they have branches in 48 states. Their goal, to be a true national bank,

It seems they mean to control the marketplace?!
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Revelate
Moderator Emeritus

Re: Rental payments business: WF has Bilt; Chase wants to build out Story

I doubt they'll ever reach market control levels.

 

When I talked to one of their private client bankers back in 2015 or so, he showed me an internal presentation where Chase wanted to be a relationship bank where they could accomodate you no matter where you are in life... basically as you "grow" they have products that fit wherever you are on that timeline.  This I think is spot on with that goal.

 

There's been some big articles about the internal fights in Chase about CCs vs other payment methods, I don't know how it will wind up but Chase is not a stupid bank imo, maybe not the absolute market leader but they recognize when they need to change fairly quickly.  My own employer somewhat recently announced some layoffs / restructuring, that should've happened years ago but the execs were just asleep at the switch.  Chase doesn't strike me as having that problem watching them over time.

 

I have a rental property which I just outsource to a property management company for 10% of rental income (which is probably a bit high I think the historical average is like 8.34%); if Chase or anyone builds a better mousetrap I'll take that FWIW.




        
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