JPMorgan’s Significant Investment in Technology

JPMorgan’s Jamie Dimon has released his annual letter which provides details on the bank’s fintech spending and future initiatives; in 2016 the bank spent $9.5 billion on technology with approximately $3 billion allocated to new initiatives, including $600 million specifically focused on fintech solutions and projects; in 2017 it plans to introduce new technology services for digital banking, online investment advice and electronic trading; Dimon also said that the firm is “collaborating with some excellent fintech companies to dramatically improve our digital and other customer offerings”; business partners include Zelle for consumer payments, Roostify for online mortgages, TrueCar for auto finance and On Deck Capital, for small business loans.  Source

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