J.P. Morgan and Rippling: A partnership that supported 100,000 people

| 00:02:37

The power of partnership

Startups to multinational enterprises rely on Rippling to run their businesses, and most important, their payroll. Find out how J.P. Morgan and Rippling worked together to get money moving when it mattered the most.

| 00:02:37

The power of partnership

Startups to multinational enterprises rely on Rippling to run their businesses, and most important, their payroll. Find out how J.P. Morgan and Rippling worked together to get money moving when it mattered the most.

Parker Conrad: When you're a payroll company, the most important thing is, people need to get paid. Rippling makes HR, IT, and finance software. Anyone that's running their payroll on Rippling, behind the scenes, it's powered by J.P. Morgan.

Peggy Doerr:
Rippling is developing an incredible product. They are the heaviest users of our latest and greatest tech. It is our job as J.P. Morgan on the back end to make sure that every dollar that flows through their payments infrastructure is optimized.

Vanessa Wu:
We're incredibly innovative. And so we're looking for a partner that can not only meet that innovation, but provide global money movement with enterprise solutions.

Noah Wintroub:
We think that the way that employees and employers interact, the software and technology that removes the friction between them is a core part of unlocking the incredible productivity power of the world through technology.

Adam Swiecicki:
The regional banking crisis was a very unusual time for many of us and I was really impressed by the speed with which J.P. Morgan moved in order to ensure that Rippling and our customers were taken care of.

Parker Conrad:
We had to move our entire payment rails over to J.P. Morgan. And we needed to do that to get 100,000 Americans paid on a Friday.

Noah Wintroub
: At J.P. Morgan, our best days are the hardest days. We quickly moved in. We worked tirelessly across the company with thousands of employees to open accounts. And we needed to design the right solutions for Rippling so that we could grow with them.

Vanessa Wu:
What normally would take a banking partner weeks, months, even years to accomplish, we saw J.P. Morgan mobilize in a matter of days. That really cemented for Rippling, our trust in the relationship that we were building with J.P. Morgan.

Rohan Dewan:
Between investment banking, corporate banking, treasury, FX, asset management, it truly is a multifaceted, multidimensional relationship. We do have a unique opportunity to proactively address the needs of a high growth business that is increasingly global.

Adam Swiecicki:
Our goal is to have true global coverage. And J.P. Morgan is going to be a critical part of making sure that that vision comes to life.

Parker Conrad:
When you're a payroll company, you need to know that money is going to arrive on time in the right place every single time. And we know that that's going to happen with J.P. Morgan. They're going to move mountains to do right by their clients and that's our philosophy with our clients. And we know that it's the way J.P. Morgan thinks about things with our partnership.

Rippling and
J.P. Morgan

“One Friday morning we woke up and payments weren't going out,” said Parker Conrad, CEO and Co-Founder of Rippling. With 100,000 people relying on them for over $100 million in payments that day, this posed a serious problem.

The regional banking crisis had left Rippling in a challenging situation after the collapse of their previous provider. “When you're a payroll company, the most important thing is people need to get paid,” added Conrad. “When it's payroll, if it's an hour late, it's a problem. People need to get paid and they need to get paid on time and they need to get paid reliably.”

“What normally would take a banking partner weeks, months, even years to accomplish, we saw J.P. Morgan mobilize in a matter of days.”

What started off as a basic advisory relationship to tap into J.P. Morgan’s global capabilities quickly turned into a full strategic partnership amidst the crisis. In just a few days Rippling was able to move their entire payroll infrastructure over to J.P. Morgan, a huge operation that required unwavering, around-the-clock support from teams across the firm. “An enormous number of people at J.P. Morgan rose to the occasion to make this happen, in a moment of real crisis for our business and the economy at large,” added Conrad. Then they could set the wheels in motion to create a payments system for the future, backed jointly by technology and scalable resources.

Innovating together to drive global growth

J.P. Morgan’s relationship with Rippling is only getting stronger. Built on a solid foundation of trust, the partnership is testament to ongoing work, commitment and innovation.  

“There’s strategic alignment,” said Adam Swiecicki, Chief Financial Officer at Rippling. “Then there’s J.P. Morgan’s capacity to move quickly, to really act with purpose. We feel like we are the number one priority for our banking counterparts.”

“We know that J.P. Morgan is always going to be at the forefront of what's happening in the industry. As Rippling's product suite expands, we're working with them on the latest payment technologies, real-time payments, wallet products, and global payments.”

“I definitely would say we innovate together. We push one another to build a new global payment ecosystem for customers, and that's really exciting,” said Vanessa Wu, General Counsel at Rippling. The company is known for its tenacity and ambition in the market, so it needed a banking partner that was on the same wavelength. “Every time we go to J.P. Morgan with a new product idea, the answer is not only a resounding “Yes”, but it is, "Yes, and here is enterprise grade payment solution to accomplish what you're looking for." And, J.P. Morgan has that shared value of doing right by customers.”

“At J.P. Morgan, our best days are the hardest days,” said Noah Wintroub, Global Chairman of Investment Banking at J.P. Morgan. “We are set up to really deal in mission-critical situations. Now, Rippling has gone from a partner to a deep strategic partner with us, working tirelessly and hand in glove, moving hundreds of millions of dollars together as they continue to serve their customers. We're very excited about where we can go.”

Where next? “As Rippling's product suite expands, there are all kinds of new ways that we need to work with J.P. Morgan. They are always going to be at the forefront of what's happening in the industry,” said Conrad.

“The innovation at J.P. Morgan is customer driven. It’s about partnership and learning, and we’ve developed a relationship of trust with the management that’s the foundation of our relationship.”

More client stories

  • Investment Banking

    Allbirds and J.P. Morgan: A trusted partnership and a shared mission

    See how J.P. Morgan worked with Allbirds every step of the way in their journey to grow their business to address the needs of its sustainability-conscious consumers.

  • Banking

    A $5 billion supercharge for battery maker Northvolt

    February 27, 2024

    J.P. Morgan recently supported Europe’s largest ever green loan amid booming investor appetite for sustainable finance.

  • Cloaked Founders: Arjun (left) and Abhijay (right) Bhatnagar


    Cloaked: Giving people more control over their personal data

    December 01, 2022

    Co-founders Arjun and Abhijay Bhatnagar offer advice for founders building companies in an uncertain economy.


This material (including market commentary, market data, observations or the like) has been prepared by personnel in the Investment Banking Group of JPMorgan Chase & Co. It has not been reviewed, endorsed or otherwise approved by, and is not a work product of, any research department of JPMorgan Chase & Co. and/or its affiliates (“J.P. Morgan”).

Any views or opinions expressed herein are solely those of the individual authors and may differ from the views and opinions expressed by other departments or divisions of J.P. Morgan. This material is for the general information of our clients only and is a “solicitation” only as that term is used within CFTC Rule 1.71 and 23.605 promulgated under the U.S. Commodity Exchange Act.

RESTRICTED DISTRIBUTION: This material is distributed by the relevant J.P. Morgan entities that possess the necessary licenses to distribute the material in the respective countries. This material is proprietary and confidential to J.P. Morgan and is for your personal use only. Any distribution, copy, reprints and/or forward to others is strictly prohibited.

This material is intended merely to highlight market developments and is not intended to be comprehensive and does not constitute investment, legal or tax advice, nor does it constitute an offer or solicitation for the purchase or sale of any financial instrument or a recommendation for any investment product or strategy.

Information contained in this material has been obtained from sources believed to be reliable but no representation or warranty is made by J.P. Morgan as to the quality, completeness, accuracy, fitness for a particular purpose or noninfringement of such information. In no event shall J.P. Morgan be liable (whether in contract, tort, equity or otherwise) for any use by any party of, for any decision made or action taken by any party in reliance upon, or for any inaccuracies or errors in, or omissions from, the information contained herein and such information may not be relied upon by you in evaluating the merits of participating in any transaction. All information contained herein is as of the date referenced and is subject to change without notice. All market statistics are based on announced transactions. Numbers in various tables may not sum due to rounding.

J.P. Morgan may have positions (long or short), effect transactions, or make markets in securities or financial instruments mentioned herein (or options with respect thereto), or provide advice or loans to, or participate in the underwriting or restructuring of the obligations of, issuers mentioned herein. All transactions presented herein are for illustration purposes only. J.P. Morgan does not make representations or warranties as to the legal, tax, credit, or accounting treatment of any such transactions, or any other effects similar transactions may have on you or your affiliates. You should consult with your own advisors as to such matters.

The use of any third-party trademarks or brand names is for informational purposes only and does not imply an endorsement by JPMorgan Chase & Co. or that such trademark owner has authorized JPMorgan Chase & Co. to promote its products or services.

J.P. Morgan is the marketing name for the investment banking activities of JPMorgan Chase Bank, N.A., J.P. Morgan Securities LLC (member, NYSE), J.P. Morgan Securities plc (authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority), J.P. Morgan SE (Authorised as a credit institution by the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and jointly supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB)), J.P. Morgan Securities Australia Limited (ABN 61 003 245 234/AFS Licence No: 238066 and regulated by Australian Securities and Investments Commission) and their investment banking affiliates. J.P. Morgan Securities plc is exempt from the licensing provisions of the Financial and Intermediary Services Act, 2002 (South Africa).

For Brazil: Ombudsman J.P. Morgan: 0800-7700847 /

For Australia: This material is issued and distributed by J.P. Morgan Securities Australia Limited (ABN 61 003 245 234/ AFS Licence No: 238066) (regulated by ASIC) for the benefit of “wholesale clients” only. This material does not take into account the specific investment objectives, financial situation or particular needs of the recipient. The recipient of this material must not distribute it to any third party or outside Australia without the prior written consent of J.P. Morgan Securities Australia Limited.

© 2024 JPMorgan Chase & Co. All rights reserved.