Exclusive: Jamie Dimon believes fintech requires a huge amount of investment

Jamie Dimon, Chairman and CEO at JPMorgan Chase said that fintech requires a huge amount of investment. Dimon also shared his views on digitization and the competitive landscape in the fintech sector.

“Some are already quite successful and they're good competition. They also have very little regulation related. So, they have advantages, but not all of them are profitable," he said while interacting exclusively with CNBC-TV18.com.

He said that he would prefer to see more of a level-playing field and regulations for competition.

“There are going be a lot of winners and losers,” he said.

On big tech companies, he said, “Apple now has a Packet Data Protocol (PDP), buy now pay later, credit scoring, the white-labelled credit card and bank accounts through Goldman Sachs. They don't have social requirements, or legal requirements. They have capital, registration and transparency requirements now. At one point, the regulators may eventually say that products have a certain type of regulation.”