JPMorgan Chase & Co. (JPM) Just Hired This Company
Author By Sophia VidaPosted on JPMorgan announced this week that the biggest bank by assets in the U.S, hired InvestCloud. Not only that but the bank will take a stake in InvestCloud as well.
InvestCloud, which started in 2012, provides software that makes online transactions easier for customers with banking and investment accounts. InvestCloud says it offers thousands of “lightweight applets” that can be configured within days rather than months.
It has 660 institutions using its tools in support of $1.5 trillion of assets, according to the announcement.
JPMorgan did not disclose the amount of the stake in the announcement.
The investment is a part of Chief Executive Officer Jamie Dimon’s commitment to spend $300 million over the next three years on digital improvements in asset management.
Disclaimer: We have no position in JPMorgan Chase & Co. (NYSE: JPM) and have not been compensated for this article.
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