Jamie Dimon says JPMorgan Chase should absolutely be 'scared s---less' about fintech threat

Dimon added that in some cases, the new players were "examples of unfair competition" that the bank would do something about eventually. He included players that take advantage of richer debit-card revenue for small banks and firms Dimon accused of not taking precautions against money laundering.

He specifically called out Plaid, the payments start-up whose acquisition by Visa recently collapsed, saying "people who improperly use data that's been given to them, like Plaid."with CNBC's David Faber, adding that Plaid is spending time with the bank on a partnership. When contacted for further comment, a Plaid spokeswoman said the company is "focused on ensuring people have access to their own financial information so they can securely share it with permission in order to use the fintech apps they choose."

She added that "data privacy and security are core to everything we do, including the data exchange agreements we have with JPMorgan Chase among many other banks."

2dogknight Plz read my pinned thread on my profile! You will like my plan for protecting against a coup! Let’s spread this far & wide on Twitter so our leaders can see this & take action it is the very best solution!! Check it out, it is good! Let’s protect freedom & Democracy!! God help us

There is good reason for this. The tech companies have been progressive and listened to the people. Banks on the other hand have been too self absorbed in their outdated views on investment and their treatment of customers (unless you are high wealth of course).

To be fair, the entire banking industry should be scared of shitless about fintech.

They all are

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