JPMorgan Chase announced it will spend $12 billion in 2021 on technology updates. Half of the money will go toward security modernization, half to be invested into innovation. JPMorgan Chase CEO Jamie Dimon said between 30% and 50% of apps and data will move to the cloud. The finance giant also spent $2 billion on new data centers in 2021, all of which were cloud compatible. Some analysts were lukewarm about the bank’s tech spending, calling it “weaponizing” small to midsized banks.”]
Source: https://www.databreachtoday.com/jpmorgan-chase-invests-12-billion-in-security-updates-a-18329