JPMorgan wants to become the Amazon of Wall Street

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February 28, 2018

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"The first opportunity we have to delight or to upset a client is when they walk through the door either physically or virtually."

Sounds like a tech executive, right? Jeff Bezos even? The Amazon boss often talks about delighting customers, after all, although until recently the ecommerce giant didn't really have doors to physically walk through.

But no, that's not a tech founder, or a retail CEO. It's Marianne Lake, the CFO of JPMorgan Chase.

In an investor day presentation Tuesday February 27, Lake went through the Wall Street giant's "Digital Everywhere" strategy. And later, JPMorgan chief Jamie Dimon, who's teamed up with Bezos and Warren Buffett's Berkshire Hathaway on a healthcare initiative, discussed Amazon Prime.

Taken together, the comments hint at JPMorgan's vision of the future of banking. Here's our story

In related news, the Chase Sapphire Reserve passed a crucial hurdle — and it could become JPMorgan's blockbuster gateway drug.

In economics news, the US economy in the fourth quarter grew slightly slower than initially reported, according to the Commerce Department's second estimate of gross domestic product. And an alarming job market trend helps explain why most Americans have yet to see a big spike in pay.

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