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In a sit down with Bloomberg, JPMorgan Chase’s CEO Jamie Dimon touched on various topics effecting the banking industry. Beginning the Q&A, Dimon was asked about the vulnerability of traditional banks to the emerging fintech sector, with specific focus on online lenders and whether he views them as a real threat.
Answering on the subject, Dimon explained that the banking community is already “a huge user of technology” and added that “digitizing services” has been taking place his entire life. Nonetheless, even though technology is being used to make banking “cheaper, better, and faster for the client”, ... (read more)