Jp Morgan Chase Bank Swot Analysis

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As a Brand: Chase Bank JPMorgan Chase & Co. is one of the oldest and well-known financial institution since its founding in New York in 1799 by Aaron Burr (The History of JP Morgan Chase & Co., 2008, p.2). As of beginning of 2015, Chase has more than 5,600 branches and 18,000 ATMs in 60 countries (Annual Report, 2014, p 42). For the year, the bank reported net income of $6.9 billion on net revenue of $34.6 billion (Annual Report, 2014, p 48). JP Morgan Chase stands as the leader of the pack among the “Big Four” banks along with Bank of America, Citibank, and Wells Cargo (King, 2015).
The Place of Chase Bank in Digital Banking Technology
In recent years, banks all-around the world have buckled down to develop digital banking platforms to keep up to date with
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The Census Bureau projects for 2015 that Millennials overtook Baby Boomers, who are in range age of 51 – 69 years old now, as the largest living generation in the United States as of 2015 and increase in size 83.1 million (U.S Census Bureau, 2015). But still Baby Boomers are the segment in size of 75.4 million that is needed to focus on with extra attention for all kind of industries.
Chase recognizes that a large portion of the older adult and elder population will refuse digital engagement, preferring a visit a branch. Chase has to maintain this customer base who brings more loyalty with a life-time value than Millennials and Generation X according to 2015 North America Consumer Digital Banking Survey. Chase Bank must develop additional strategic moves that would embrace the elderly population. To reach people who are older than 51, Chase has to persuade them to use online/mobile banking by showing them conveniences and amenities of Chase digital platform and encouraging them with special offers and
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