US Bank JPMorgan Chase has committed to spending over $12bn on technology in 2022.
In Brief:
JPMorgan Chase has set out technology plans for the year.
Plans include using aspects like cloud to accelerate software development.
It will also look externally to acquire technology businesses.
What does this mean?
The bank is concentrating on both internal development of technology and external partnerships (it recently acquired OpenInvest and Nutmeg) to be able to compete better with today’s digital-first banks and FinTechs.
