JPMorgan Chase – Enterprise Tech Ecosystem Series
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JPMorgan has been focusing on AI-based approach as a part of its digital transformation strategies. The annual ICT spending of JPMorgan was estimated at $14 billion in 2022. A major share of this spending is earmarked for acquiring software, ICT services, and hardware from vendors. JPMorgan Chase (JPM) is a financial holding company that provides consumer and commercial banking, investment banking, financial transaction processing, and asset management solutions.
The JPMorgan Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, investments, acquisitions, ICT spending among others.
Digital Transformation Strategies
In line with its digital strategy, JPMorgan is exploring the potential use cases of AI and machine learning technologies by establishing an innovation center, J.P. Morgan AI Research, which consists of a team of AI experts. The team focuses on developing solutions that address challenges faced by the financial services industry and strives towards mitigating them using AI.
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JP Morgan Technology Theme Focus
JPMorgan is utilizing number of emerging technologies including artificial intelligence, big data, cloud, blockchain and payments to improve operational efficiency and enhance customer experience.
JPMorgan Technology Focus
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JPMorgan Technology Initiatives
JPMorgan has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs over the past few years. For instance, JPM is leveraging blockchain technology in payment transfers between banking institutions worldwide. The new solution, named Confirm, is anticipated to reduce failed transactions caused by mismatched payment details. In addition, Confirm will lower the cost of transactions. The new payment solution in conjunction with JPM’s global clearing solution PayDirect is estimated to increase transparency and enhance the end-to-end payment transfer experience.
For more insights on other technology initiatives of JPMorgan, download a free report sample
JPMorgan ICT Spend by Function
- Communications
- Data center
- Network
- Application
- End-user computing
- Service desk
- Management
JPMorgan ICT Spend by Function, 2022
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JPMorgan ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/Consulting firms
- Specialist outsourcers
- Systems integrators
JPMorgan ICT Spend by Channel, 2022
For more insights on ICT spending by channel, download a free report sample
JPMorgan External ICT Spend by Segment
- ICT services
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- Network and communications
- Consulting
- Others
JPMorgan External ICT Spend by Segment, 2022
For more insights on external ICT spending by segment, download a free report sample
JPMorgan Digital Transformation Strategies Overview
Total ICT Spending 2022 | $14 billion |
ICT Spend by Function | Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management |
ICT Spend by Channel | Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators |
External ICT Spend by Segment | ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others |
Technology Theme Focus | Artificial Intelligence, Big Data, Cloud and Payments |
Scope
This report provides:
- Insight into JPMorgan ‘s technology activities.
- Insights of its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering product launches, partnerships, investments, and acquisitions.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
Reasons to Buy
- Gain insights into JPMorgan’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various product launches, partnerships, investments, and acquisitions.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of JPMorgan in 2022?
The annual ICT spending of JPMorgan was estimated at $14 billion in 2022.
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Which was the leading ICT spending category by function for JPMorgan?
Data center was the leading ICT spending category by function for JPMorgan in 2022.
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Which was the leading ICT spending categories by channel for JPMorgan?
Internal development and maintenance was the leading ICT spending category by channel for JPMorgan in 2022.
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Which was the leading ICT spending category by segment for JPMorgan?
Software was the leading external ICT spending category by segment for JPMorgan in 2022.
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