Analysis of the Business Strategy in the Banking Industry: A Case Study of JPMorgan Chase & Co
DOI:
https://doi.org/10.54097/d99se829Keywords:
JPMorgan Chase; Competition; Fintech; Customer experience; Technology adoption.Abstract
With the fast growth of the Internet, JPMorgan Chase is suffering more and more competition from old-fashioned banks and new fintech companies. At the same time, with the further development of technology to change the financial market dramatically, JPMorgan's old-fashioned strengths, such as its worldwide coverage and extensive range of services, are diminishing. Therefore, this paper discusses JPMorgan Chase's challenges and strategies regarding its challenges in investment banking, the adoption of fintech, and pressure from regulation. This study discovers that JPMorgan has to pay more attention to customer experience improvement, the adoption of new technology such as AI and blockchain, and market penetration to new markets. JPMorgan's future could be enhanced by digitizing its strength and acting on customers' evolving requirements. The conclusion from this study could be applicable to future JPMorgan Chase development and has some major implications to facilitate the healthy growth of the banking sector.
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