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Fortune

Luisa Beltran

JPMorgan Chase’s fintech buying spree

JPMorgan Chase JPMorgan fintech Frank Charlie Javice Jamie Dimon OCC Term Sheet

(Credit: Marco Bello/Bloomberg via Getty Images)

Good morning. Luisa Beltran here, filling in for the Term Sheet team.

This week I’ve been reporting on JPMorgan Chase, which has been on a deal spree, buying up or investing in more than 80 companies since 2021. The main reason? Competition. Jamie Dimon, JPMorgan Chase’s billionaire chairman and CEO, has long warned about the competitive threat from fintechs and Big Tech. Companies like Amazon or Google or PayPal are not constrained by legacy software, or the volumes of regulations that banks have to contend with and are free to innovate.

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