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Benzinga
Benzinga
Business
Sue Strachan

Could The Rise Of Fintech Create The Need For Bank Mergers? JPMorgan Chase CEO Jamie Dimon Weighs In

Jamie Dimon JPMorgan NYSE

The rise of fintech has not been lost on the banking community. In his latest annual report released Monday, JPMorgan Chase & Co. (NYSE:JPM) Chairman and CEO Jamie Dimon said he now sees banks having a “decreasing role in the global economy.”

What Happened: While Dimon said banks “performed magnificently during the COVID-19 crisis,” he is concerned about the rise of shadow banks and fintech companies, how it will affect banks and vice versa.

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