Open Always
Email: Call Now! +1-315 515-4588
Open Always
Email: Call Now! +1-315 515-4588

Sample Research Paper on Digital Innovation within the Jp Morgan Chase

This sample paper on (Sample Research Paper on Digital Innovation within the Jp Morgan Chase)was uploaded by one our contributors and does not necessarily reflect how our professionals write our papers. If you would like this paper removed from our website, please contact us our Contact Us Page.

A Database of over Million Scholarly Resources. Start your Search Now

Sample Research Paper on Digital Innovation within the Jp Morgan Chase

Background and Introduction

            In the current business world, banks are working towards meeting the dynamic customer need through continued innovative technologies. Many banks have been forced to establish a design and innovation center that would help the organizations in matching the changing needs. JPMorgan Chase is one of the largest banking institutions in the United States in terms of the overall total assets. The bank is taking its operations digital with close to 9 million of its customers being served through digital channels daily. Chase digital platform is simple, human, and personal to improve the experience of the volume of customers served via the digital channels. The digital innovations have sought to improve the company’s financial capability. This occurs through its financial literacy efforts that advocates for behavioral change among the clients (Van der Boor, Oliveira and Veloso 2014, p.1593). Recently, JPMorgan Chase launched the development of a financial Solutions Lab that would focus on the identification of strategies to increase customer savings, improved credit, and the growth of assets. The lab would support technological applications and services related with the long term needs of the customers. In this report, it will discuss the concept of digital innovation within JPMorgan Chase.

Concepts and Significance of Emerging Technologies and Applications in JPMorgan

JPMorgan has grown its innovative technologies towards improving the strategic performance and focus of the company. In addition, the bank has introduced certain key patents including the transactional card inventions. The systems allow for the use of the smart cards that can display a prepaid balance. This makes its simpler for the internet users to network the company’s financial services with other online services (Wonglimpiyarat 2014, p.124). Recently, the digital innovation has been said to be effective in preventing the increased cases of identity theft. Most important, the Equities Real Time Risk innovation is helpful in improving the performance of the investment banking section. The innovation provides actual price and risk data in real-time by incorporating the immediate market data (Al-Jabri and Sohail 2012, p.381). This provides the most complex information for the businesses to make quick and effective decisions. Thus, the innovation has enabled Chase to service its customers better. It is beneficial, as it allows the banks and customers to track markets and react to any changes in the market data and information.

 In addition, the digital innovation would encourage collaboration among different innovators. It provides guiding frameworks and designs to develop suitable financial solutions. The various digital innovations will also develop new research-driven insights towards resolving the dominant financial challenges in the society (Rönnbäck and Eriksson 2012, p.413). The insights and ideas would help the banks to tailor their products and series in improving the customer service. Digital innovation would launch strong competition among different developers to improve their tech-enabled innovations. The most efficient innovations would consider the amount of capital to be invested, technical training required, and the involvement of third parties (Rönnbäck and Eriksson 2012, p.414). Therefore, different digital innovations would be appropriate to improve the overall strategic performance and capability of JPMorgan Chase.

Barriers and Drivers of the Innovative Technologies

The major drivers of digital innovations in JPMorgan include the presence of strong patent applications in the bank. The patent applications have helped to reduce the burden to be incurred during the transmission of data in different financial transactions because they have also strengthened the ability of the payment rewards processes to the credit owner. The technology allows for ease of communication among different stakeholders.  The presence of a strong computing power and capability is a major drive of the innovative technologies. It is also connected to global gird computing that uses internal compute cloud of 5000 processing cores (Webb 2011, p.570). This computing strength and capability is capable of running parallel complex models and systems. In addition, many banks and clients shifting from manual to digital transactions create a strong platform for developing the innovative technologies at Chase. This is because the bank is focused on meeting the digital demands of the customers.

The economic, social, political, and technological factors could act as either drivers or barriers to successful digital innovation. This forms the main external aspects and determinants impact the development of improved digital innovation platforms. For instance, the economic factors towards globalization success help in reducing existing barriers, thus allowing for constant improvement of the technologies. JPMorgan Chase should understand the nature of the external environment in order to develop strong policies. The policies and strategies are targeted towards designing and implementing a conducive environment for strong innovative technologies (Yoo, Boland, Lyytinen and Majchrzak, 2012, p.1402). The political factors in terms of policymakers advocating for the adoption of innovations in the banking and financial services has been a key driver. The policymakers and public institutions are able to implement relevant changes in improving digital innovations.

Key Areas in JPMorgan benefiting from the Emerging Technologies

Risk management is one of the key areas in which JPMorgan has enjoyed the application of the digital innovations. JPMorgan has an Intraday Risk Management (IRM), an application that allows traders to monitor the changes in the underlying market information and data, and impacts to their risk and profit positions. The innovation functions by providing real time updates on the risk and changes in the market data (Davenport 2013, p.201). It also supports different strategies in defining specific risks updated on a real time basis. The areas of risk management face the challenge of understanding the complexity of the risks in order to make appropriate risk management decisions. Thus, the digital innovation of IRM has been beneficial in the area of risk management in JPMorgan.

Another key area is investment banking in which the bank has established the Investment Banking Intelligence Engine (IBIE). This is a software design that collects data, aggregates, and reports on the broad collection of the various financial aspects. IBIE acts an influential system of recording different profitability measures to support large-scale computations. The innovation has been helpful in investment banking by reporting complex profitability calculations. The digital innovation supports improved data management and warehousing in the bank (Gupta 2013, p.4). In addition, the digital innovations have been targeted towards improving the security of financial transactions and services. Security is a major concern in the banking and financial services. JPMorgan Chase has developed strong firewalls and security systems to counter the risks of cyber attacks. Such attacks would lead to the loss of customer’s funds and access of customer’s information.

Checklist and Innovative Technologies Influence on the Strategic Planning Processes

JPMorgan Chase understands that the adoption of the digital innovations is critical to the long-term success and growth of the company. The inability to deal with the changing external environment forms the main challenge for most large banks across the world. Thus, digital innovation strategies give the bank a major strength that can be utilized to develop strong strategic plans and objectives (Goh & Kauffman 2013, p.32). The incorporation of the digital innovation into the strategic planning process is crucial in creating suitable plans and objectives for the bank. One major weakness is the unwillingness of the employees to adapt to the new technologies. Even though most employees may be satisfied with the innovative technologies, some employees would be resistant to the technological changes (Setia, Venkatesh and Joglekar 2013, p.570). This proves a main challenge in enhancing the efficiency and effectiveness of the innovative technologies at Chase. From the report, I can understand that digital innovation provides the strengths of obtaining quality knowledge and information. The quality information is required in supporting open innovation in the society. It makes it possible to understand communication among various potential values relayed to technology. This promotes research and development at Chase. Therefore, the digital innovations provide necessary technological intelligence for use in the overall strategic planning process.

Conclusions and Recommendations

In summary, digital innovation at JPMorgan Chase has been beneficial in improving the bank’s processes and productivity. Recently, Chase signed an agreement to develop a financial Solutions Lab targeted at identifying potential strategies to increase customer savings, improved credit, and the growth of assets. There exists different key areas in which JPMorgan Chase has implemented digital innovations, including the risk management, security issues, and investment banking areas. The external aspects of the banking form some of the influential drivers and barriers of digital innovation. The economic, social, political, and technological factors could act as either drivers or barriers to successful digital innovation. It is recommendable for JPMorgan Chase to understand the nature of the external environment in order to develop strong policies in tackling the inherent barriers. The implementation of successful strategic plans and policies creates open opportunities for enhancing long-term strategic capability and success in the bank.



Reference List

Al-Jabri, I. M., & Sohail, M. S., 2012. Mobile banking adoption: application of diffusion of innovation theory. Journal of Electronic Commerce Research, 13(4), pp. 379-391.

Davenport, T. H., 2013. Process innovation: reengineering work through information technology. Boston, MA: Harvard Business Press.

Goh, K. H., & Kauffman, R. J., 2013. Firm Strategy and the Internet in US Commercial Banking. Journal of Management Information Systems, 30(2), pp. 9-40.

Gupta, S., 2013. The Mobile Banking and Payment Revolution. European Financial Review, pp. 3-6.

Rönnbäck, Å., & Eriksson, H., 2012. A case study on quality management and digital innovation: relationship and learning aspects. International Journal of Quality and Service Sciences, 4(4), pp.408-422.

Setia, P., Venkatesh, V., & Joglekar, S., 2013. Leveraging digital technologies: How information quality leads to localized capabilities and customer service performance. MIS Quarterly, 37(2), pp. 565-590.

Van der Boor, P., Oliveira, P., & Veloso, F., 2014. Users as innovators in developing countries: The global sources of innovation and diffusion in mobile banking services. Research Policy, 43(9), pp.1594-1607.

Webb, N. J., 2011. The Digital Innovation Playbook: Creating a Transformative Customer Experience.  New York, NY: John Wiley & Sons.

Wonglimpiyarat, J., 2014. Competition and challenges of mobile banking: A systematic review of major bank models in the Thai banking industry. The Journal of High Technology Management Research, 25(2), pp. 123-131.

Yoo, Y., Boland Jr, R. J., Lyytinen, K., & Majchrzak, A., 2012. Organizing for innovation in the digitized world. Organization Science, 23(5), pp. 1398-1408.

Sharing is: CARING

Are you looking for homework writing help? Click on Order Now button below to Submit your assignment details.

Homework Writing Help
We Can Help you with this Assignment right now!
Sample Research Paper on Digital Innovation within the Jp Morgan Chase

Are you looking for homework writing help on (Sample Research Paper on Digital Innovation within the Jp Morgan Chase)?Well you can either use the sample paper provided to write your paper or you could contact us today for an original paper. If you are looking for an assignment to submit, then click on ORDER NOW button or contact us today. Our Professional Writers will be glad to write your paper from scratch.


We ensure that assignment instructions are followed, the paper is written from scratch. If you are not satisfied by our service, you can either request for refund or unlimited revisions for your order at absolutely no extra pay. Once the writer has completed your paper, the editors check your paper for any grammar/formatting/plagiarism mistakes, then the final paper is sent to your email.

Privacy| Confidentiality

Sample Research Paper on Digital Innovation within the Jp Morgan Chase

We do not share your personal information with any company or person. We have also ensured that the ordering process is secure; you can check the security feature in the browser. For confidentiality purposes, all papers are sent to your personal email. If you have any questions, contact us any time via email, live chat or our phone number.

Our Clients Testimonials

  • I appreciate help on the assignment. It was hard for me but am good to go now

    Impact of pollution on Environment
  • Am happy now having completed the very difficult assignment

    Creative Message Strategies
  • Your writer did a fine job on the revisions. The paper is now ok

    Ethics: Theory and Practice
  • The paper was so involving but am happy it is done. Will reach you with more assignments

    Title: Privatization in or of America
  • I expected perfection in terms of grammar and I am happy. Lecturer is always on our head but was pleased with my paper. Once again, thanks a lot

    Title: Bundaberg Inquiry
  • The paper looks perfect now, thank to the writer

    Health Care Systems
  • You helped me complete several other tasks as you handled paper. wonna thank you

    Critique Paper on Political Change

Related Articles

Sample Research Paper on Digital Innovation within the Jp Morgan Chase

Analyze the Nursing Roles in providing Comprehensive care in a Variety of Community Health Settings

Community Settings This week’s graded topics relate to the following Course Outcomes (COs). CO3: Plan prevention and population-focused interventions for vulnerable populations using professional clinical judgment and evidence-based practice. (POs...
Read More

Case Study Assignment on Ethical Issues in Asia-Pacific business

Case study assignment on Ethical Issues in Asia-Pacific business For this assignment, students will write a case study report in 2,000 words based on a case identified with circumstance or...
Read More

Sample Report Paper on The proposed reward system and strategy for the big city university

A good reward system should motivate workers. It should also attract and retain the same workers. On the contrary, a bad reward system does not do either of these things....
Read More

Management of PCOS through Homoeopathy-A case report

Introduction PCOS is the acronym for Polycystic Ovarian Syndrome. It is the most common endocrine disorder of women in their reproductive period manifested by irregular menstrual cycles and polycystic ovaries,...
Read More

Get more from us…

Would you like this sample paper to be sent to your email or would you like to receive weekly articles on how to write your assignments? You can simply send us your request on how to write your paper and we will email you a free guide within 24-36 hours. Kindly subscribe below!

Email Address: