The Renovite acquisition, reported first by CNBC, is the newest in a string of fintech deals made below CEO Jamie Dimon. Since late 2020, JPMorgan has acquired no less than five startups, from an ESG investing platform to a UK-based roboadvisor, on top of creating a series of smaller fintech investments.

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«The flipside of the damage that cutting off SWIFT would inflict on the Russian financial system is the injury it might do to Russia’s counterparties to the transactions being arranged, confirmed and negotiated via SWIFT, most significantly European states heavily dependent on Russian exports, particularly in the vitality sector,» Lockwood says. «Limiting Russian banks’ access to SWIFT would also hinder the ability for funds for these goods and services to be effectively communicated and executed.»