I applied online. The process took 2 months. I interviewed at J.P. Morgan (London, England) in Jan 2015
Interview
Application involved uploading a CV and an optional cover letter. However, you had to answer two questions about what you would gain from the experience. Applicants that passed this was offered a phone interview. Interview was with a senior member of staff for around 20-30 minutes. Typically you are told three days before the interview the specific date, time and the employee who is interviewing you.