1.What are J.P. Morgan Chase's plans with respect to the size and makeup of their information technology spending? JP Morgan has spent more than $9 billion last year on technology and most importantly 30% of this $9 billion were spent on new investments for the future. In addition, the banks resources include 31 data centers, 67,000 physical servers globally and 27,920 databases and a global network. JP Morgan plans to increase its technology spending by just over 2% from around $9.2 billion to $9.4 billion and plans to allocate the increase in technology spending to investments and technology by $80 millions. To achieve these figures JP Morgan plans to cut down spending by making changes to their location strategy, reducing dependence on legacy applications and increase consistency across its technology. The amount saved will be …show more content…
The bank has already rolled out sales prospecting tools to identify future clients in 15 countries in 2105 and plans to expand more. This will benefit the bank to identify and service more clients in the future. The spending in investments has increased …show more content…
Today the company is evolving and wants to use analytics extensively to improve the quality of banking services. With the use of analytics, the bank is able to connect with its clients and new prospects. The use of new sales analytical tool will further benefit the bank through machine learning algorithms examining public data for companies. This use will also help the bank to make more informed decisions regarding their customers and also to keep their