What Is JP Morgan Chase?

A direct cyberattack in 2014 to JPMorgan Chase caused a compromised of accounts effecting a total of 76 million households and seven million small businesses. We are clearly, in times when consumer confidence in the digital operations of corporate America is on shaky ground. In directly, banking is taking the brunt of the fallout but major stores also have breaches which of course are directly related to their financial data. Store like, Target, Home Depot and a number of other retailers have experienced major data breaches. 40 million cardholders and 70 million others were compromised at Target alone in 2013 and an attack at Home Depot in September, 2013 affected 56 million cardholders.

Our new strategy was to look at our customers’ total holding and figure out how to deepen their relationship with the bank if they had potential. “Case study page 8”

Most new entrants are technology firms of all sizes that are looking revolutionize the banking industry as they revolutionized almost all major industries in the past 15 years. These firms apply concepts such as artificial intelligence and 24/7 connectivity to create innovative ways of performing tailored banking operations at lower cost and with greater convenience for the consumer. Retail banks however have an opportunity to maintain relevancy over the upcoming decade, but in order to do so they must harness technology either through in house innovation or partnerships to accentuate they’re current competitive advantages such as personalized

To know a company, it is important to have an understanding of its history. J.P. Morgan is one of the leading global financial services and has been doing business for over 200 years. They have assets of $1.4 trillion and operations in more than 50 countries. J.P. Morgan Chase has historic links to its nearly 1,000 predecessors which started back in the 1800s. The beginning of J.P. Morgan Chase traces back to the Bank of the Manhattan Company that was started in 1799 by Aaron Burr.

increase in technology new innovative ways of shopping and banking has been introduced such as

"At JPMorgan Chase, we want to be the best financial services company in the world. Because of our great heritage and excellent platform, we believe this is within our reach."

J.P. Morgan once said, “Go as far as you can see; when you get there, you'll be able to see farther.” This quote means reach what you have been looking for and once you get that thing keep going. J.P. Morgan was a successful businessman and banker. Morgan was born April 17,1837 and died in 1893. The famous billionaire John Pierpont Morgan became the richest man in the 1800’s, leading to the growth of many steel companies.

JPMorgan Chase (NYSE: JPM) is one of the oldest financial institutions in the United States with a history dating back over 200 years. JPMorgan and Chase is basically included Chase- the U.S. consumer and commercial banking businesses serve customers under the Chase brand. The consumer businesses include: Branch, ATM, telephone and online banking, Credit cards, Small business, Home finance and home equity loans, Auto finance, Education finance, Retirement & Investing, Retail Checking. The commercial banking businesses include: Middle Market, Corporate Client Banking,

One of biggest banking merger took place in December 2000 when Chase Manhattan and J.P. Morgan & Co. merged. The new name of the combined company was JP Morgan Chase. In 2004, Chase became the largest credit card issuer in US after it acquired Bank One. In 2008, JPMorgan Chase also acquired the Washington Mutual and Bear Stearns & Co.

CIBC has focused its core business on retail and business banking, wealth management, and whole sale banking. They have shown a proven track record of providing there customers with financial services and advice through a group upwards of 1100 branches worldwide. Strategies CIBC has portrayed is to continually find new ways to enhance the experience of the client and to stimulate safe revenue growth. CIBC has put emphases on creating deep meaningful relationships with all clients, constantly trying new ways to improve service and sales prospects and to create relationships with new clients while retaining existing clients for a long period of time (CIBC).

Morgan Stanley is a global financial business firm serving a diversified group of corporations, governments, financial institutions, and individuals in 36 countries around the world, and sets its headquarter in New York City. The main areas of business for the firm today are Global Wealth Management, Institutional Securities and Investment Management. Morgan Stanley settled its Asia Pacific headquarters in Hong Kong in 1987 and its main business helps shape global views on China and the Asia Pacific region. The Morgan Stanley of Hong Kong provides services to clients in investment banking, real estate, private equity, equity and securities trading, derivatives, prime brokerage, private wealth management and investment

The Competitive Profile Matrix indicates that JPMorgan Chase has the highest weighted score of 2.81 which is an indication that they are leading in the Banking industry over Bank of America with a score of 2.65 and Wells Fargo in third place with a score of 2.51. None of the three banking institutions fell below the average of 2.5 which is considered a weak position. Some of the contributing factors are as follows: On Financial Strength in 2015 JP Morgan Chase had assets of 2.39 trillion dollars, and Bank of America’s assets was at 2.17 trillion dollars, while Wells Fargo trailed with assets of 1.44 trillion dollars. On Technology initiatives, in addition to the large amounts of resources assigned to banking technology, JP Morgan Chase has a technology budget of 500 million dollars for Cyber Security; Bank of America invested 400 million, while Wells Fargo spent 250 million on Cyber Security.

American Express, also know as AMEX, is a global financial services company headquartered in New York City and founded in 1850. With 54,000 employees and a revenue of over 35 billion dollars American Express stands tall on the New York Stock Exchange (Sec.gov). American Express is best known for it’s credit cards, which make up about twenty-five percent of total dollar volume in credit card transactions in The United States of America (Reviews.greatplacetowork.com). American Express’ goal is to maintain a leading and almost elite reputation with as many qualified card holders as possible. American Express does this by concentrating on the customer’s experience and branding that experience. American Express’ key components in maintaining and further exceling into this goal includes focusing on their human recourses, social responsibility, and marketing techniques.

It was found in one instance that certain markets that Barclaycard are in have potential to grow substantially but are currently performing poorly due to the need for extensive investment. This for the time being is not the ideal strategy as the organization needs to embrace a complete paradigm shift in strategy direction.

In 1996, Citibank was an emergent banking institution attempting to increase its market share in the competitive Los Angeles area. In order to do so, the bank’s strategy was to focus slightly less on their financial growth, and much more on providing “a high level of service to its customers”. Management viewed this paradigm shift as “critical to the long term success of the franchise”.