Banks Hedging with Investments in Fintechs

An article from Bloomberg highlights bank investments in fintech companies; the article cites a report from Opimas noting that both Goldman Sachs and JP Morgan Chase are investing in companies that aim to disrupt banking; Goldman Sachs has invested in 15 fintech companies focusing on capital markets; JP Morgan Chase has invested in nine; the report states that banks and other companies will invest $1.7 billion in approximately 44 deals this year; this comes at a time when venture capitalists are shying away from the market. Source