Jeff For Banks

Bankers: Don’t Buy the Hype. Let Fintech Equity Investors Bear the Cost of Experimentation.

By: Jeffrey P. Marsico

When JPMorgan Chase released its 2016 annual report, in which the celluloid CEO Jamie Dimon proudly acknowledged spending nearly $10 billion on technology, the talking heads erupted. Ten billion! Must be good. Jamie does it.

And from that moment the conventional wisdom was and is: community banks can’t compete. I just heard it on Friday. A team of investment bankers told a community bank board, “how do you compete with that?”

I have ideas. Watch/listen to my most recent vlog.

 

Who should bear the cost of experimentation?

~ Jeff