JPMorgan Expands Tech Investment to Modernize Banking

JPMorgan Chase said on Feb. 23 that it will spend roughly $19–$20 billion annually on technology, framing the investment as products, platforms, AI, cloud and data integration. The bank reports over 80% of applications run on modern infrastructure and more than 70% operate in cloud, with AI production deployments doubling in 2025. The spending signals a shift toward realtime, data-native banking and could narrow FinTech differentiation.