When it comes to fintech, the CEO and Chairman of the US’s largest bank by assets is very vocal. JPMorgan’s Jamie Dimon frequently hits the road to visit startups in Silicon Valley, he’s hitting the podcast circuits to talk fintech, and he dedicates a lot of ink in his firm’s yearly investor communications to discussing the future of finance.
Dimon’s always happy to talk about fintech and he’s outspokenly encouraging and critical of the industry.
In Dimon’s world, fintech isn’t really anything new. During his banking career, technology has always played a major role in creating new products, reducing costs, and providing a better consumer experience. But as CEO, it’s his job to understand exactly what advantages fintech is bringing to the financial ecosystem and then partner, build, or buy his way to bring these new technology to his current and future clients.
Fintech, Silicon Valley, and Incumbent Banks
Kara Swisher does a good job getting Dimon to open up on her Jamie Dimon’s interview on Recode Decode , though when you listen to the audio, he tries hard to stick to his talking points. Dimon isn’t in the Valley to mess shit up; instead, he’s there to make peace, to identify promising technology, and to partner. Sure, fintech’s a threat for incumbent financial institutions but in Dimon’s world, everyone can find a way to work together.
On traveling to tech hubs like Silicon Valley:
- “I come [to Silicon Valley] all the time and so does much of our management. We use these trips to learn about what’s keep our people a little bit scared, to make sure we learn how to use things things to better serve our clients.â€
On how fintech isn’t really new:
- “I don’t buy that fintech is completely different. Technology has been changing the world since we invented agriculture. My whole business career technology has been a critical part of what a bank does. Fintech isn’t just about good technology but about solving business pain points.â€
