Updated September 24, 2019
J.P. Morgan Developer has emerged as a critical tool for the firm’s businesses since its public launch in 2018. Offerings through the API platform have recently surpassed 100 million annual data requests across institutional clients from the Markets and Treasury Services businesses.
Put simply, the platform provides a modern and self-service experience for technologists at client companies to connect to J.P. Morgan’s APIs and other technical capabilities, enabling them to integrate their own software and systems so that information can be seamlessly transferred between the two firms.
Over 175 institutional clients have signed up, most to access the firm’s signature Markets data and analytics offering DataQuery – and the capability is now being harnessed in the rapidly-evolving world of Treasury Services.
Treasury Services has recently published more than 20 new APIs through the offering focused on providing clients greater flexibility and customization. Account balance reporting is one example: Traditionally, when a treasurer wanted to review the balances in their organization’s accounts, they needed to either access J.P. Morgan’s single dealer portal or wait for a scheduled file. By using an API installed by a technologist, the treasurer can instead see real-time balances directly in their company’s own system or application, allowing them more flexibility in how they view and analyze their data. Treasury Services is bringing this ease of access to other areas such as initiating and tracking payments and managing user entitlements.
“Technologists are now a key client constituency who want a world-class user experience when considering our APIs and technical offerings,” says Richard Crozier, head of Product Management for CIB Data & Analytics.
“We are excited to offer this capability, built entirely in-house, to simplify the lives of our treasurer clients and position J.P. Morgan competitively within the landscape of emerging technology.”
The 20 APIs account for over a quarter of those available externally on J.P. Morgan Developer and there are plans to onboard Merchant Services later this year as part of a Wholesale Payments initiative. In addition to building an exhaustive API catalog, Treasury Services is also working with third parties to integrate new API-enabled functionality directly within systems that TS clients natively use.
The move is part of a wider API offering by J.P. Morgan Developer to third-party vendors and fintechs to build a community within the industry, providing clients with niche data, calculations and other tools.
“With the Treasury Services initiative, we went through multiple iterations of user experience testing,” says Sairam Rangachari, head of Open Banking & API Strategy. “It was an agile process that ultimately got us to a place where our ‘payments as a service’ is showcased in an innovative way through thoughtful design.”
Available through https://developer.jpmorgan.com or http://developer.chase.com for retail-focused efforts, J.P. Morgan Developer offers technologists a clear, organized view of available digital offerings.