New York (CNN Business)JPMorgan Chase is building a campus in Silicon Valley as it redoubles its focus on tech — and looks to compete more aggressively for top talent.
The bank said Friday that it will open a new “fintech campus” in Palo Alto in 2020. It will house more than 1,000 employees, consolidating the company’s existing presence in the Bay Area.
The move signals JPMorgan’s growing focus on digital payments. In 2017, the bank bought WePay, a payments company that competes with PayPal. Its 275 employees will move to the Palo Alto campus from Redwood City.
