JP Morgan Chase 2015 Annual Report Download - page 31
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29
• Digital and Global Wealth Management.
Wewillbeinvestingapproximately
$300millionoverthenextthreeyears
indigitalinitiativesforAssetManage-
ment.InGlobalWealthManagement,we
havemodernizedtheonlineexperience
forclients,enabledmobileaccess,and
launchedadigitalportalforaccesstoour
researchandanalysisacrossallchannels.
Inaddition,wearerollingoutauser-
friendlyandpowerfulplanningtoolthat
ouradvisorscanusewithclientsinreal
time.Wearealsoworkingonsomegreat
newinitiativesarounddigitalwealth
management,whichwewilldisclose
laterthisyear.
• Digital Commercial Banking.InCommercial
Banking,J.P.MorganACCESSdeliversa
platformforclientstomanageandpull
togetheralltheirTreasuryactivitiesina
single,secureportal,whichwasrankedas
the#1cashmanagementportalinNorth
AmericabyGreenwichAssociatesin2014.
Wecontinuetoinvestindigitalenhance-
ments,releasingin2015ourproprietary
andintegratedmobilesolutionforremote
checkdepositstohelpclientsfurther
streamlinetheirback-ocereconciliations.
Wearealsoinvestinginimprovingthe
overalluserexperiencearoundkeyitems
suchasentitlements(designatingwhocan
makepayments)andworkow,bringing
toourcommercialdigitalplatformssome
ofthesameenhancementswe’vebrought
toourConsumerBankingsites.
Whilewemakeahugeeorttoprotect
ourowncompanyintermsofcybersecu-
rity,wetrytohelpprotectourclientsfrom
cyberthreatsaswell.Wehaveextensive
fraudandmalwaredetectioncapabilities
thatsignicantlyreducewirefraudon
ourcustomers.We’veincreasedourclient
cybersecurityeducationandawareness
programs,havingcommunicatedwith
morethan11,000corporatecustomerson
thistopicandhostingnearly50cybersecu-
rityclienteventsin2015.
• Small business digital. Smallbusinessesare
importanttoChaseandtothecommuni-
tiesweserve.Smallbusinesseshavea
varietyofbankingneeds,withapproxi-
mately60%ofourcustomersusingour
checkingaccountsorbusinesscreditcards.
Andlikeourconsumerclientbase,they
dependheavilyonthetechnologythat
alreadyisoeredinourConsumerbusi-
ness.Butweareveryexcitedabouttwo
newinitiativesthisyear:
– Ournewbrand“ChaseforBusiness”
isnotjustabrand.Overtime,wewill
simplifyforms,speedapplicationsand
dramaticallyimprovethecustomer
experience.Thisyearornext,we
willrolloutanonlinedigitalapplica-
tionthatallowsaBusinessBanking
customertosignupforthe“triple
play”withonesignatureandinone
day.“Tripleplay”standsforadeposit
account,abusinesscreditcardand
Chasemerchantprocessing–allat
once.Nowthat’scustomerservice!
– ChaseBusinessQuickCapital.Working
withaFinTechcompanycalledOnDeck,
wewillbepilotinganewworking
capitalproduct.Theprocesswillbe
entirelydigital,withapprovaland
fundinggenerallyreceivedwithinone
dayvs.thecurrentprocessthatcan
takeuptoonemonthormore.The
loanswillbeChasebranded,retained
onourbalancesheet,andsubjecttoour
pricingandriskparameters.
• Commercial Term Lending.InourCommer-
cialTermLendingbusiness,ourcompeti-
tiveadvantageisourprocess–westrive
toclosecommercialrealestateloans
fasterandmoreecientlythanthe
industryaverage.Thathasallowedus
todrive$25billionofloangrowthsince
2010,representingave-yearcompound
averagegrowthrate(CAGR)of11%
andoutpacingtheindustryCAGRof
4%whilemaintainingcreditdiscipline.
Technologicalinnovationwillcontinueto
improveourprocess–laterintheyear,
wewillberollingoutaproprietaryloan
29