How J.P. Morgan is leading the digital revolution
In a recently published feature story, Institutional Investor magazine explores the essence and history behind the firm’s repeated mantra, “Mobile first, digital everything”. Chairman and CEO of JPMorgan Chase & Co. Jamie Dimon continues to lead initiatives for the firm to become the clear technological leader in the banking industry.
From the launch of an advanced digital payments network within the Consumer Bank to the release of a blockchain based interbank payments platform within the Investment Bank, the firm’s determination and efforts toward improving efficiency and forging technological initiatives remain undeterred.
With investments over $20 billion in new products for digital banking, investment advice, trading and cyber security, JPMorgan Chase executives feel no constraint towards pushing for more digitization. “We don’t want to ever be told one or two years from now that something strategically important wasn’t done because of budget limitations,” says Chief Financial Officer Marianne Lake.
As fintech firms have set the pace for digital disruption within financial services, J.P. Morgan has in fact invested in more than 100 of them. However, even with the increase of technological initiatives, such tech investments and partnerships are taken in stride. Chief Information Officer Lori Beer stated, “We definitely seek out a balance of solutions now in terms of whether we build, buy or partner with someone.”
Read the full article on Institutional Investor.