But Dimon also predicted that larger fin tech players will eventually become regulated, saying, “if they become big and significant, they’re going to be regulated, too, eventually. The government isn’t going to say, “We’re going to regulate banks, but we’ll leave these other companies alone.”
Although regulators may not be the grim reaper for these online lending upstarts, Dimon believes that a credit crunch will. “One of the issues with some of these lenders is going to be, where will their provider of credit be when there’s a crisis?” he questioned.
However, just because these startups may face challenges in the coming year, doesn’t mean he is discounting them.
“But, you know, honestly, who owns the future? Just because you have a good hand today doesn’t mean it’s good tomorrow.”