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
In the "Top 10 Disruptive Technologies in Fintech" report, Juniper identifies the emerging technologies that are disrupting and influencing financial services in 2017; the top three include PSD2 and open APIs, regtech, and chatbots; at the top of the list, open APIs are a trend influencing financial services globally and Europe's PSD2 legislation is expected to help accelerate innovation. Source
Juniper Research has released a study titled, "Fintech Futures: Market Disruption, Leading Innovators & Emerging Opportunities 2016-2021"; study finds that fintech platform revenues generated from supporting the insurance industry will total approximately $175 billion in 2016; the analysis projects that these platform revenues will grow at an annual rate of 34% with revenue of $235 billion globally by 2021; Juniper Research says growth will be driven by machine learning, increased use of mobile apps and blockchain technology. Source