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JPMorgan’s Dimon Sees Facebook to Google Challenging Bank

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon sees challenges from companies such as Facebook Inc. and Google Inc. as they seek to provide online banking and money-sending services.

“We move $10 trillion a day,” Dimon said today at the Euromoney Saudi Arabia conference in Riyadh. “We’re one of the largest payments systems in the world. We’re going to have competition from Google and Facebook and somebody else.”