JP Morgan Chase’s Finn Not A Failure According to Jamie Dimon

JP Morgan Chase recently shared that Finn was shutting down after one year; during today’s earnings call CEO Jamie Dimon noted that the banking app was not a failure citing that the bank had learned how to better the account opening process; the bank also shared that 25% of new account openings are now digital signups and that they have opened 2 million digital accounts; Dimon also responded to comments about concerns over the bank’s legacy platform to which Dimon replied, “The hype has been around now for the better part of a decade, and we seem to be doing fine.” JP Morgan has been able to adapt to platforms being built alongside legacy systems, pushing changes in days and weeks as opposed to months or years. Source