JPMorgan Chase CEO Jamie Dimon: Fintech Is an ‘Enormous Competitive' Threat to Banks

Jamie Dimon, JPMorgan Chase chairman and CEO, listed fintech as one of the "enormous competitive threats" to banks in his annual shareholder letter released Wednesday. "Banks ... are facing extensive competition from Silicon Valley, both in the form of fintechs and Big Tech companies," like Amazon, Apple, Facebook, Google and Walmart, Dimon wrote, and "that is here to stay."