JPMorgan Chase intends to spend close to $600mn more on technology in 2019 than they did in 2018; almost half of their budget goes to change the bank projects, with the rest on upkeep of current technologies; sometime in the next few years there will most likely be a plateau on tech spending at big banks according to Chris Kotowski, analyst at Oppenheimer; JPMorgan CEO Jamie Dimon has said that we can’t afford it should never be an excuse, the bank is clearly showing that they are willing to lead the way. Source.
