JPMorgan has announced the launch of a program for fintech startups to work side-by-side with its businesses in order to develop innovations that could revolutionize the sector, enabling banks to operate faster, safer and at a lower cost.
The ‘In-Residence’ program is inviting startups to join the bank for six months. During this time, emerging fintech companies that become residents will have access to JPMorgan’s facilities, systems and expertise. Residents will retain control of their innovations and may receive continued support from the bank even after the residency period in an effort to bring their solutions to market.
“In-Residence presents a unique opportunity for talented, ambitious startups to be truly supported by J.P. Morgan’s global resources,” said Sanoke Viswanathan, Chief Administrative Officer of J.P. Morgan’s Corporate & Investment Bank. “By giving them unparalleled access to J.P. Morgan’s people and network, we hope to enhance their ability to create technology-led solutions that can be put into practical use for our industry.”
The program is interested in startups that are involved in blockchain, analytics, robotics, and automation. Applicants can apply to the program atwww.jpmorgan.com/in-residence, where the bank will publicly list challenges that In-Residence is seeking to tackle. Applicants will be accepted on a rolling basis and each challenge will have its own residency timeline.
“Our industry is going through a transformational time, driven by competition, regulation and advancements in technology,” said Daniel Pinto, CEO of the Corporate & Investment Bank. “As a leading global bank, we are committed to driving industry change by investing heavily in internal development, but also by collaborating with the talent of determined, young startups.”
