JP Morgan Chase made their first fintech acquisition with the purchase of payments company WePay; financial terms were not disclosed but the WSJ reports the price was above their 2015 valuation of $220mn; this deal points to a larger trend in the payments space with 2017 seeing deals for 166 companies worth $29.3mn. Source.
After more than a year of research focused on how millennials bank JP Morgan announced the launch of Finn by Chase; the app includes checking & savings accounts, a debit card, personal financial management tools and other features that would appeal to a younger user base; the thinking behind the app is to give customers another option and grow their customer base in regions that don’t include many branches. Source.
By the end of 2022, JP Morgan Chase hopes to cover 93% of Americans via their branch network; this amounts...
The news marks the first time a major US bank has created a cryptocurrency; the bank plans to start trials...
JP Morgan has frozen hiring across most of the bank; managers have been asked to review job postings and remove...
JPMorgan is in talks to invest an undisclosed amount in 10x Future Technologies, the company founded by former Barclays CEO...
JPMorgan has come to understand how important cloud computing is to the future of the bank; they recently created a...
JPMorgan Chase and Barclays have joined IBM’s quantum computing network as they look to use the technology to assess risk and stay secure; Barclays is beginning to test potential uses and JPMorgan Chase is looking to leverage quantum computing for trading, portfolio optimization and risk analysis; there is a lot happening in quantum computing these days as big tech firms look to master the technology seen as potentially 100,000 times faster than classic computers; while there are clear benefits to quantum computing banks are also looking at protecting themselves from the cyber threat that hackers could exploit using the same technology. Source.
JPMorgan Chase and Grubhub have struck a partnership to allow delivery drivers to instantly access earnings; the product is similar...
In December JPMorgan Chase CEO Jamie Dimon said the bank was working on creating their own API for data sharing;...