J.P. Morgan Payments has been recognized by Celent, a global research and advisory firm for the financial services industry, as a winner of two Celent Model Bank Awards for Embedded Finance and Innovating with Digital Assets. Now in the 20th year of the Model Bank program, Celent recognizes financial institutions as model banks for their outstanding technology initiatives.

“The development of J.P. Morgan’s Embedded Finance suite and the integration with Walmart Marketplace and its success should be seen by the industry as a signal that embedded finance is a critical infrastructure layer,” said Gareth Lodge, Principal Analyst, Banking and Payments at Celent. “This is an example of how successful co-designing with clients can bring real tangible business results.”

“JPM Coin stands out for measurable business benefits, meaningful industry-leading innovation and strong execution,” said Alenka Grealish, Principal Analyst, Banking and Payments at Celent. “With JPM Coin, J.P. Morgan Payments is bringing commercial bank money beyond a closed-loop network, enabling it to be used in the digital assets ecosystem and unlocking value for institutional clients.”

The awards highlight two of our technology solutions:

• Embedded Finance Solution for Walmart Marketplace powers the seller wallet for one of the fastest-growing e-commerce platforms in the world, enabling sellers to accept, manage and move funds without leaving the platform. The solution delivers an end-to-end suite of embedded payment capabilities, including digital onboarding, flexible global payment options and seamless API integration, all from a single, trusted provider.
• JPM Coin, a deposit token launched by Kinexys by J.P. Morgan,the firm’s industry-leading blockchain business, is the first issuance of commercial bank money on public blockchain.¹ JPM Coin is issued on a Layer 2 Ethereum network that enables institutions to move, program and settle money on public blockchains 24/7/365.² By unifying payment, settlement and reconciliation into a single on-chain action, JPM Coin helps corporates, financial institutions and payment service providers access near-real-time settlement, unlock intraday liquidity and reduce counterparty risk without replacing existing treasury infrastructure.

“From embedding our payment capabilities directly into the Walmart Marketplace seller experience to advancing programmable, always-on settlement through JPM Coin, we’re meeting clients where they are and building the infrastructure that will shape the future of payments. We’re proud to be recognized by Celent, and we remain focused on delivering the technology and trust our clients need to grow,” said Umar Farooq, Global Co-Head of J.P. Morgan Payments.

In 2025, Celent named J.P. Morgan the Model Bank of the Year, recognizing four digital innovations that enhanced end-to-end payments, treasury services, and client experience. In 2024, Celent awarded J.P. Morgan Payments with its Model Bank award for Integrated Digital Solutions, delivering seamless out-of-the-box digital banking experiences through clients’ ERP systems. Celent also profiled the J.P. Morgan Payments Partner Network, which brings together J.P. Morgan Payments’ comprehensive suite of payment solutions with over 80 third-party integrations to assist clients in developing, implementing, expanding and optimizing payments strategies tailored to their business needs.

Read more about J.P. Morgan Payments’ wins in Celent’s 2026 Model Bank case studies:

• Embedded Finance Solution for Walmart Marketplace, Winner of the 2026 Celent Model Bank Award for Embedded Finance
• Kinexys by J.P.Morgan: JPM Coin, Winner of the 2026 Celent Model Bank Award for Digital Asset Innovation

Dive deeper:

• J.P. Morgan Payments receives several awards for AI leadership and data & analytics innovation
• Kinexys by J.P. Morgan recently won two Global Finance Magazine’s The Innovators 2026 awards for Best Financial Innovations and North America categories.
• J.P. Morgan Payments named Payment Technology Provider of the Year by Tearsheet

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