Transaction security and data security stay on the agenda of fintech. In the pandemic, online requirements become more urgent, and transaction security and data security must be ensured to avoid risk exposure and financial security incidents.
Meanwhile, consumers, manufacturing industry, SMEs and private enterprises are under financial pressure due to the pandemic. Fintechs should review and verify platform information more strictly to avoid financial fraud committed by releasing malicious or false information. In addition, JPMorgan Chase’s digital transformation has won recognition from the capital market, with its share price rising steadily by 170% compared with 2008. Now its market value ranks first in the US banking industry.bank, for example, aims to deliver a differentiating experience for customers. It conducted three digital transformation strategies in different regions of Europe in 2014.
Large banks take the lead in technological innovation. In 2019, JPMorgan Chase’s technical budget was $11.4bn, ranking number one in the industry, with a year-on-year increase of 5.6%. About half was spent on disruptive technical applications internally, and the other half was mainly used for system and data maintenance.