[pbreit]

“WePay and its employees will operate as Chase's payments innovation incubator in Silicon Valley"

Uh, oh. Does such a thing ever work?

[csours]

The current wisdom is that if you leave yourself weak to disruptive innovation.

In the automotive world, everyone has a bet on self driving cars, for instance. Ford has Argo AI, GM has Cruise Automation.

For a contrast, look at Kodak. They pioneered the tech for digital camera sensors... and then did nothing with it, because they made money on film. Digital camera sensors killed film.

If you want a longer discussion on this, The Innovator's Dilemma is highly recommended. Here's a short summary: https://www.youtube.com/watch?v=yUAtIQDllo8

[oh-kumudo]

Chase App is top-notch, not some random corporate bloatware, really easy to use. I feel they are pretty competitive.

[cookiecaper]

For what it's worth, Chase has quickly been becoming the most consumer-focused and technically-capable financial institution that I routinely interact with. They may have someone competent in the leadership over there, and I find acquisition of WePay another potential positive indicator of that.

[kevmo]

For a while. All the big companies have external innovation acquisition as a yearly budget item.