JP Morgan Chase 2015 Annual Report Download - page 35

33
• Healthcare industry group. In addition to
delivering access to capital and other
financial services, we can help our
healthcare clients manage the constantly
changing regulatory environment and
adjust their businesses to comply with the
Patient Protection and Aordable Care
Act and other new regulations. In addi-
tion, our web-based tools are making it
easier for healthcare providers to migrate
payments from expensive paper checks to
ecient electronic transactions.
• Technology industry group. To serve our
technology clients, we have expanded
our coverage to include 30 bankers in
11 key markets, all highly aligned with
our Investment Banking team. With
this model, we can provide investment
banking services, comprehensive payment
capabilities and international products to
address the needs of technology clients
through every stage of growth.
In Asset Management, we have dedicated
groups that cover highly specialized segments.
Some of these segments are: Defined Benefit
Pension Plans, Defined Contribution Pension
Plans, Endowments & Foundations, Family
Oces and Insurance Companies.
How and why do you use big data?
We have enormous quantities of data, and
we have always been data fanatics, using
big data responsibly in loan underwriting,
market-making, client selection, credit under-
writing and risk management, among other
areas. But comparing today’s big data with
yesterday’s old-style data is like the dier-
ence between a mobile phone and a rotary
phone. Big data truly is powerful and can be
used extensively to improve our company.
To best utilize our data assets and spur
innovation, we have built our own extraor-
dinary in-house big data capabilities – we
think as good as any in Silicon Valley –
populated with more than 200 analysts and
data scientists, which we call Intelligent
Solutions. And we are starting to use these
capabilities across all our businesses. I want
to give you a sample of what we are doing –
and it is just the beginning:
• Commercial Banking. We are using big data
in many ways in Commercial Banking.
One area is responsible prospecting. It
always was hard to get a proper list of
client prospects (i.e., get the prospect’s
working telephone number or email
address, get an accurate description of the
business and maybe get an introduction
to the decision maker at the company).
Using big data, we have uncovered and
qualified twice as many high-quality pros-
pects, and we are significantly more eec-
tive in assuring that the best banker is
calling on the highest-potential prospects.
This has given us confidence in knowing
that if we hire more bankers, they can be
profitably deployed.
• Consumer Banking. Within the Consumer
Bank, we use big data to improve under-
writing, deliver more targeted marketing
and analyze the root causes of customer
attrition. This will lead to more accounts,
higher marketing eciencies, reduced
costs and happy customers.
33