Last week, JPMorgan Chase & Co. (NYSE: JPM) announced it has made an equity investment in California fintech firm, InvestCloud. The banking giant also confirmed it has formed a strategic partnership with InvestCloud to accelerate its development of brand new digital capabilities for individual investors for JP Morgan and Chase franchises.
According to JPMorgan Chase, the new partnership will enable the company to expedite the launch of new online investing capabilities by combining the firms wealth management expertise with InvestCloud’s technology solutions. Sharing more details about the collaboration, Jamie Dimon, CEO of JPMorgan Chase, stated:
“InvestCloud is an impressive company with a track record of driving innovation for its institutional clients. This is another opportunity for us to collaborate with a fintech company to provide our clients with the best experience.”
JPMorgan Chase also confirmed that starting in 2017 its wealth management clients will be able to access user-driven online investing through dashboards, additional mobile functionalities, and open accounts easier. The company also stated it will roll out new features to enhance client interactions with advisors. Mary Callahan Erdoes, CEO of Asset Management for JPMorgan Chase, explained:
“Across the wealth spectrum, our clients are increasingly engaging with us digitally. We have been managing wealth for more than 200 years. Pairing these new technological capabilities with our trusted guidance will help our clients achieve their long-term financial goals with flexibility in how they interact with us and our advisors.”
“Our first-class digital solutions are uniquely flexible, providing JPMorgan Chase with direct access to our pipeline of valuable technology for its wealth management clients. Likewise, in establishing a long-term relationship with JPMorgan Chase, we’re able to leverage their strategic input, particularly as we address the challenge of scale with other clients.”