Finance

JPMorgan Chase should absolutely be ‘scared s—less’ about fintech

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Jamie Dimon, CEO of JP Morgan Chase

David A. Grogan | CNBC

JPMorgan Chase CEO Jamie Dimon has watched while a new breed of fintech players, led by PayPal, Square and tech giants around the world have exponentially grown users and market value.

His message to the management team of his $3.4 trillion banking goliath: Be frightened.

“Absolutely, we should be scared s—less about that,” Dimon said Friday in a conference call with analysts. “We have plenty of resources, a lot of very smart people. We’ve just got to get quicker, better, faster. … As you look at what we’ve done, you’d say we’ve done a good job, but the other people have done a good job, too.”

Dimon’s blunt assessment was in…



Source cnbc.com

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