JPMorgan Chase to spend $12bn on tech this year – Finextra

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JPMorgan Chase will spend more than $12 billion on technology in 2022, contributing to an eight per cent rise in expenses that could hurt the bank's profitability targets.
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Tech may be a short term cost but is a long tern investment, so whilst it may work against profitability targets in the short term, the longer term benefits (including profitability) should be greater. 
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