Moat Index
Companies· Fintech & Commerce

JPMorganJPM

Moat score

The largest bank in America, with a technology budget bigger than most software companies’ revenue.

MOATE3.6Deep
3.6 Deep
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DimensionMOATECommunity
Switching costsweight 15Primary banking and treasury relationships are deeply embedded; corporate clients rarely move.7
Network effectsweight 15Chase’s payments and card volumes reinforce merchant acceptance and consumer reach.5
Scale & cost advantageweight 12The definitional case in banking: scale in deposits, lending, and a technology spend no fintech can approach.10
Brand & pricing powerweight 12The fortress balance sheet is the brand; fee pricing holds across cycles.8
Cornered resourceweight 12A deposit franchise, charters, and regulatory capital — none of it available to a new entrant.8
Distribution controlweight 12Branches, the Chase app, and cards in most American wallets.8
Disruption resilienceweight 12Fintechs take slices; JPMorgan outspends and acquires them.7
Independenceweight 10The most regulated company on the index; capital rules and rates are set elsewhere.4

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How strong is JPMorgan's moat?

Question 1 of 8

Switching costs

Switching costs · weight 15

How painful — in money, time, risk, retraining — is it for a customer to leave?

5