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JP Morgan Chase to Partner with OnDeck

JP Morgan Chase to Partner with OnDeck

Yesterday JP Morgan Chase CEO Jamie Dimon spoke about partnering with a peer to peer lending platform without mentioning the company by name.  Later in the day, it was shared that OnDeck Capital has announced a strategic partnership with JPM where the largest bank in the US will use OnDeck to provide SME loans.  OnDeck shares rallied on the news jumping dramatically after hours (NYSE:ONDK). OnDeck has only been trading on the NYSE for less than a year.

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