JPMorgan Chase: Putting customers first in a global platform
"Every time you put the client first, then you have a chance to get incremental business."
The Business Issue
The treasury services division of JPMorgan is entrusted with the cash business of more than 135,000 corporations, financial institutions, and governments in over 180 countries around the world. Daily operations include payments totaling $7.5 trillion and more than 23 Million transactions. JPMorgan wanted to break down the various operational silos that had developed over time, and create a robust system that would service customers quickly and efficiently, regardless of their location.
JPMorgan and Pega combined forces to develop a strategy for bringing the systems and operations together into an integrated global platform. The integrated platform put information at the clients fingertips by enabling clients to access one application for all the information needed to make investment decisions.
JPMorgan customers are no longer bound by the 8-5 schedule of their local branch and instead they are able to leverage centralized hubs around the globe to ensure 24x7 service. The results for JPMorgan’s clients as well as the business have been staggering, including:
- Increased profitability
- Scalability of applications
- 24x7 service
- Expedited resolution times
- Service in the same time zone
- 360 view of portfolio
A global study of 500 senior banking and insurance executives by Cognizant, Marketforce, and Pega.
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Industry: Financial Services
Product Area: Customer Service
Challenge: Customer Service