The bank reported solid growth in their lending business but remains cautious of downturn; the bank raised their loan loss...
A new report by JPMorgan says they don’t believe blockchain technology will be transformative for the global payments system and...
In the past some fintech companies and financial aggregators have accessed JP Morgan customer data by using user’s passwords; JP...
JPMorgan will soon be using robot technology to execute trades across its global equities algorithms business; the artificial intelligence, also known as LOXM, will be launched across Asia and the US in the fourth quarter; LOXM's job is to execute client orders with maximum speed at the best price, by using lessons it has learned from billions of past trades; one possible evolution of LOXM is teaching the machine how to get to know individual clients, so that it could consider their behavior and reaction as it decides how to trade. Source
JPMorgan Chase has been active in fintech partnerships with firms like Truecar, OnDeck and Roostify; they are now partnering with Bill.com in an effort to eliminate paper checks; JPMorgan spent $600 mn last year building fintech solutions and partnering with firms according to a letter CEO Jamie Dimon sent to shareholders in April. Source
Reuters reports that Quorum is in discussions with ConsenSys on a potential merger according to people familiar with the plans;...
The case put forward by the Conference of State Bank Supervisors which challenged the OCC’s fintech charter has been dismissed...
Australian digital bank Judo Bank has officially reached unicorn status with the latest round of capital; the $230mn round included...
According to data from Dealogic, 2019 fintech funding has hit record highs; 87 deals totaling $116.6 billion have been completed...
The Consumer Financial Protection Bureau (CFPB) was established as part of Dodd-Frank reform following the 2008 financial crisis to focus on financial law pertaining to the protection of consumers in the financial marketplace; in 2016 a three-judge D.C. circuit panel declared the CFPB unconstitutional in the PHH vs. CFPB case and gave full director accountability power to the president; an appeal by the CFPB overturned that ruling and called for a rehearing of the case before a broader panel of judges which is set for May 24, 2017; on Friday, March 17 the US Justice Department filed a brief requesting that the federal appeals court restructure the CFPB; the brief appears to be focused on the fact that the CFPB director was setup to have no accountability to the president; in the case of PHH vs. CFPB, lawyers from PHH reported that the CFPB should be dissolved; the Justice Department's brief appears to focus just on the CFPB director's accountability. Source