J.P. Morgan has teamed up with H4, a cloud-based healthcare data management, integration and analytics company, to create a new documentation solution for global custody clients.
As part of this collaboration, J.P. Morgan’s custody business will leverage H4’s technology to help transform the client contract onboarding experience, reuse data contained in documents and build a digital library.
H4 and J.P. Morgan have already successfully piloted the new documentation platform in the global custody business, with a view to rolling it out across J.P. Morgan’s Securities Services business in the coming months.
The data management company has also been used by the J.P. Morgan team to assist with the capture of critical data elements from their historical agreements allowing ease of the business line review and the ability to drive analytical reporting at the client and business level.
Mike Hughes, managing director and head of global custody at J.P. Morgan, said: “We’re excited for the future as our collaboration on the platform develops. It potentially creates an ecosystem for J.P. Morgan and its clients to negotiate and alter contracts real time in a controlled environment.”
Hughes continued: “This technology will allow for efficient collaboration at an important stage of the new client relationship, an additional tool for effective onboarding, all fitting squarely within J.P. Morgan’s Securities Services data-focused strategy.”
Joe Seifert, CEO and co-founder of H4, added: “Many fintech CEOs I speak to are frustrated by the lack of client understanding and urgency around tech adoption despite the rhetoric. It requires business leaders to ‘get it’, make bold choices and lead the change. The J.P. Morgan Securities Services team is helping to lead the industry and have been outstanding partners.”
