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Tag: JP Morgan


Regulations

JP Morgan and fellow Viva Wallet shareholder WeRealize exchange lawsuits

February 20, 2024

Via: FinTech Futures

The US bank first acquired a 48.5% stake in Viva Wallet in December 2022 in an effort to tap the European payments market, with WeRealize, led by Viva Wallet founder Haris Karonis, retaining the remaining share. However, reports have suggested […]


Activity, Retail Banking

JP Morgan and Mastercard’s new Pay-by-Bank solution goes live in the US

October 23, 2023

Via: FinTech Futures

The solution leverages Mastercard’s open banking technology to enable consumers to share their financial data to pay third parties directly from their bank account using traditional ACH banking rails. This process eliminates the need for customers to manually enter their […]


News

US Treasury Department enlists JP Morgan for account validation services

September 29, 2023

Via: FinTech Futures

As part of the agreement, JP Morgan’s corporate and investment bank will corroborate payment information for the department’s fiscal service prior to its payments being issued. It will seek to authenticate payment details by leveraging its own customer information alongside […]


Activity, Channels, Corporate Banking

Bahrain’s Bank ABC taps JP Morgan for blockchain-based cross-border payment service

September 26, 2023

Via: FinTech Futures

The soft-launched service seeks to enable the bank’s clients to complete high-value transfers between Bahrain and the US through JP Morgan’s Coin Systems, which sits upon the JP Morgan Onyx blockchain system which was launched in 2020. Coin Systems supports […]


Activity, Retail Banking

JP Morgan Payments taps Network International to strengthen payments acquiring in the Middle East

September 5, 2023

Via: FinTech Futures

Utilising Network International’s acceptance solutions and “decades of expertise” in card processing and value-added services, JP Morgan Payments aims to “expand and complement” its existing payment offerings in the region. Founded in 1994 and headquartered in Dubai, Network International offers […]


Activity, Retail Banking

JP Morgan CEO confirms German expansion for Chase digital bank

July 25, 2023

Via: FinTech Futures

Following earlier speculation that it might pursue the German market, Dimon finally confirmed the move with regional newspaper Handelsblatt on Friday, sharing that the US banking giant has “ambitions plans” for its arrival. Chase’s European debut has so far only […]


Capital and Risk, Operational

JP Morgan taps Sharegain for digital securities lending solution

April 24, 2023

Via: FinTech Futures

Sharegain’s digital securities lending solution will bolster JP Morgan’s existing client offering for wealth managers and online broker participants across 30 markets. The fintech’s end-to-end digital solution allows investors to generate revenue through loaning out their financial assets – including […]


Activity, Corporate Banking

JP Morgan snaps up VC investment analytics software firm Aumni

March 23, 2023

Via: FinTech Futures

The acquisition, expected to close in H1 2023, will build out JP Morgan’s private markets platform for companies, employees and investors. The US multinational says the deal will complement its recent acquisition of Global Shares and the launch of its […]


Activity, Corporate Banking, Regulations

JP Morgan sues Frank founder for allegedly inflating user figures

January 12, 2023

Via: FinTech Futures

According to the lawsuit, filed in December last year in the US District Court in Delaware, Javice allegedly claimed Frank – a student loan application fintech – had more than 4.25 million student users but had used “synthetic data” techniques […]


Capital and Risk, Operational, Trading

JP Morgan partners AI/ML platform Cleareye to digitise trade finance operations

September 22, 2022

Via: FinTech Futures

The new “global strategic alliance” will see Cleareye work with JP Morgan’s Trade and Working Capital Group, leveraging the former’s digital solution ClearTrade to simplify the due diligence processing associated with trade finance transactions and related physical documents. Over the […]


Activity, Corporate Banking

JP Morgan acquires 49% stake in European SME paytech Viva Wallet

January 27, 2022

Via: FinTech Futures

The financial services multinational says the “strategic investment” supports the firm’s plan to expand its payments business targeted at European SMEs and middle market merchant services clients. The financial terms of the transaction have not been disclosed. Founded in 2000, […]


News

Architecture heads at Deutsche Bank and JP Morgan leave months into their jobs

June 28, 2021

Via: FinTech Futures

Deutsche Bank has seen head of group architecture, John Smith, depart to join IHS Markit. Smith arrived at Deutsche from NatWest Markets in March, but is headed out after less than four months. Once CIO at NatWest, Smith has a […]


Regulations

2020 review: 10 largest regulatory fines this year

December 28, 2020

Via: FinTech Futures

Some hefty penalties have hit headlines this year, punishing a range of indiscretions including market manipulation and money laundering. Here are the largest regulatory penalties announced this year. 10. Commerzbank fined £37.8 million by FCA for AML failings The UK’s […]


Activity, Investment Banking

Citi’s Proxymity lands $20.5m from HSBC, JP Morgan and Deutsche Bank

May 6, 2020

Via: Banking Technology

The fresh capital comes from eight heavy weight investors including Citi, Deutsche Bank, HSBC, JP Morgan, State Street, Clearstream, and Computershare. All eight investors are in the fintech’s newly created consortium. The fintech says it will use the backing to […]


Activity, Corporate Banking

JP Morgan plans to cut hundreds of jobs across consumer division

January 31, 2020

Via: Banking Technology

The report did not mention the exact number of jobs to be cut but said the planned layoffs represent about 1% of employees in the unit. JP Morgan will notify the impacted staff on 6 February and give them a […]


Activity, Corporate Banking

JP Morgan announces new division to fund at least $100 billion in emerging market projects

January 21, 2020

Via: CNBC

J.P. Morgan Chase announced the creation of a new business called the Development Finance Institution to boost private investment in emerging-market development projects. The lender said it can finance more than $100 billion annually from its investment bank and created […]


Retail Banking

JP Morgan vows to ban fintech apps from using customer passwords

January 3, 2020

Via: Banking Technology

Bill Wallace, Chase’s head of digital, told the Financial Times the lender was working towards getting customers’ passwords “out of the system” and instead issuing tokens that send third parties a narrow range of data in a secure form. Aggregator […]


Uncategorized

JP Morgan and Baton Systems develop real-time clearing system

November 18, 2019

Via: Banking Technology

According to the firms, the new system will address the challenge of having to tie-up excess funds across the clearing workflow by integrating settlement instructions for custodians and other funding sources into existing treasury platforms. The resulting end-to-end automation of […]


Activity, Investment Banking

Bank Earnings: Three Things to Know on Citi, JPM, Bank of America

July 15, 2019

Via: TheStreet

The big banks are kicking off earnings season, and while Citi (C – Get Report) did so with a bang there are some particular factors to watch for in the rest of the earnings reports. Citigroup Citi beat analyst’s estimates […]


Activity, Corporate Banking

JP Morgan’s secretive UK digital bank plans revealed

June 21, 2019

Via: Banking Technology

The bank’s secretive project comes just weeks after it closed its millennial retail offering Finn in the US. The US bank has been reaching out to developers to build a product which could challenge Goldman Sachs’ Marcus and the competitive […]