Featured Case Studies - JPMorgan

J.P. Morgan Chase & Co. is a leading global financial services firm with assets of approx $800 billion and operations in more than 50 countries. With relationships with over 99% of the Fortune 1000 companies, the firm is a leader in investment banking, asset management, private banking, private equity, custody and transaction services, retail and middle market financial services, and e-finance.

MOTIVATION

The large institutions that trade their equity portfolios through JPMorgan form a highly-prized client base. The firm has invested significantly in the infrastructure, people and systems to win and support these large institutions, offering valued electronic trading capabilities to clients on their desktops. Yet, the elapsed time from sign-up to go-live, the 'time to-on-board', was unacceptably long for both JPMorgan and its clients. JPMorgan wanted to shorten this 'time-to-on-board' whilst reducing the management and other overhead associated with the On-Boarding process. In addition the firm aimed to improve its ability to monitor the On-Boarding process so that both the firm and the Client could gain clear insight into status and as appropriate accelerate their respective On-Boarding responsibilities.

CHALLENGE

DOING MORE WITH LESS
Improving the capacity of the On-Boarding process whilst simultaneously cutting costs required JPMorgan to do more with less. The firm's challenge was to reduce the level of management and staff resource required while at the same time bringing clients on-board more quickly. Management and staff time could then be deployed in other client service and delivery management tasks even while the "reduced" capacity devoted to On-Boarding brought on more clients more quickly than before.

MAKING KNOWLEDGE VISIBLE
Shared insight into the status of a Client in the On-Boarding process would allow JPMorgan and Client teams to overcome On-Boarding issues. The firm not only wanted to provide the team with up-to-the-minute status information but also wanted to escalate issues for quick and effective resolution - this could only be done by providing new monitoring, failure recognition and exception management capabilities. In addition JPMorgan wanted team members to have the benefit of all lessons learned from previous On-Boardings, a goal which required gathering and consolidating knowledge from every On-Boarding case.

EXPEDITING TASKS
Over 60 manual steps performed by six JPMorgan departments across three geographies had resulted in too many opportunities for On-Boarding work to become delayed in queues or prioritized down in individuals' work-stacks. JPMorgan needed to identify bottlenecks, reduce wait-times and implement a galvanizing process that would inject momentum into the task of getting new clients 'live'.

"Singularity have used business sense and technology savvy to boost our performance, provide the right level of visibility to all participants, and ensure a better experience for our clients."

Matthew Hampson,
VP & Business Technologist,
JPMorgan Equities

"Singularity’s creativity, pragmatism and commitment to results was invaluable to us as JPMorgan transformed its Client On-Boarding performance. The Singularity Process Platform™ is the engine that drives our new productivity and equips our team to meet client needs better."

John Connolly,
Chief Knowledge Officer,
JPMorgan Equities