JPMorgan said last week that it plans to significantly scale its technology investment and spending initiatives in 2022.
The revelations came during a fourth-quarter earnings call on January 14, during which JPM executives including chairman and CEO Jamie Dimon staked out the importance of such spending, including on talent acquisition and what he called"change the bank" spend.
JPMorgan will boost the roughly $12 billion it spent on technology last year by as much asAccording to the FT, tech-focused spending will hit $12 billion in 2022. As for what's fueling the spending push, Dimon appeared to cite competition, including challengers from the fintech space.."And sometimes you guys spend a few bucks."
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