JPMorgan Chase plans a venture with a peer-to-peer lender to small businesses, Chief Executive Officer Jamie Dimon said.
"We haven't announced it yet, [but] we're going to be doing a thing with one of these peer-to-peer, small-business lenders," Dimon said Tuesday in a panel discussion. "The kind of stuff we don't want to do or can't do, but there's somebody else who can do it and do it probably well. So this is going to be collaborative."
Big U.S. banks are scrambling to offer more technologies and services demanded by consumers and businesses, including peer-to-peer lending, so startups don't steal market share, Bank of America Corp. CEO Brian Moynihan said last month.