Global Technology
Global Technology
Global Technology
Deliver best-in-class products, Strengthen our development Unlock the Protect the Firm
1 2 3 4
platforms, and experiences capabilities and infrastructure power of data and our customers
⚫ Continued to release new products and experiences ⚫ Improved speed-to-market of ⚫ Ahead of our plan to ⚫ Matured ability to
that delight our customers: product features by 20% (in days) deliver $1B respond to new
business value threats, including
⚫ Account validation: custom-built engine that ⚫ Continued application quantum safe
validates bank accounts to protect customers modernization through refactoring, ⚫ +34% YoY growth in encryption
SaaS replacement, and legacy AI/ML use cases in
⚫ Cash optimization: enable utilization of residual
decommissioning production ⚫ Delivered business
cash to generate alpha
value through cyber
⚫ Connected Commerce: ecosystem of products ⚫ Enabled multi-vendor public cloud ⚫ Accelerated large- as a differentiator
connected via reusable APIs as target state infrastructure language-model
(LLM) enablement ⚫ Maintained flat
⚫ Fusion: cloud-native data management and ⚫ Completed ~60% of our application expense relative to
reporting platform migrations to strategic data centers volume increases
⚫ Versana: reduce settlement times and improve ⚫ Optimized data center footprint to
liquidity management for syndicated loan market facilitate public cloud journey
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Our expense growth is driven by investments, volumes, and structural factors
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2 Strengthen our software development capabilities and infrastructure
OUR 3-YEAR COMMITMENT FROM INVESTOR DAY 2022 PROGRESS WE’VE MADE
Modernizing technology and software development excellence will drive cost efficiency
across the total spend and slow our expense growth
~$300mm
Total spend breakdown Opportunity levers Opportunity size through engineering
14.1 efficiencies and
Software development excellence
◼ Improve engineer capacity through
labor productivity
agile adoption and elimination of non-
Engineering
◼
value adding activities
High levels of automation (testing,
~10%
release, production support) and in productivity and
Product, design, application cost efficiency
streamlined software delivery through
support, and other
our platforms
Modernize technology 15-20%
◼ Increase utilization of cloud and
reduce data center footprint in infrastructure cost
~$200mm
Infrastructure and software
efficiency in infrastructure
◼ Break monolithic applications into
modular and API-driven architecture productivity
to improve cost elasticity
Total Spend ($B)
~$1.5B in productivity and cost efficiencies over the next 3 years
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2 Strengthen our software development capabilities and infrastructure
We continue to modernize our technology estate while keeping infrastructure RTB expense relatively flat
WE’VE MADE SIGNIFICANT PROGRESS IN MODERNIZING APPLICATIONS… …WHILE MODERNIZING OUR INFRASTRUCTURE & SUPPORTING GROWING VOLUMES
⚫ We have increased SaaS adoption to replace non-differentiating ⚫ In the last year, we have been modernizing our on-premise infrastructure
applications with industry-leading SaaS solutions and growing cloud use
+14%
~60%
Growth in SaaS 38%
of in-scope applications 30%
applications ~560
~490 have fully migrated to our
modern data centers
2022 2023
2022 2023
Cloud as a percentage of total infra spend
⚫ And we have continued our legacy application decommissioning ⚫ Over time, this has resulted in our infrastructure run-the-bank expense
journey remaining relatively flat while our volumes have increased
Volume of
applications
~2,200 ~2,500
decommissioned
since 2017
2019 2022 2019 2022
2022 2023
Storage and compute volumes Infrastructure run-the-bank expense
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2 Strengthen our software development capabilities and infrastructure
We’ve made progress on technology modernization and engineering excellence to drive efficiencies in
feature delivery and slow our expense growth
WHAT WE MEASURE ACROSS SOFTWARE DEVELOPMENT LIFECYCLE COVERAGE EXAMPLE OUTCOMES WE’VE ACHIEVED IN 1 YEAR
SPEED
LAUNCH
~20% improvement in days from
Accelerate development and 60% backlog to deployment
deployment of features into of apps
production
AGILITY
84%
On Enterprise Adopt and continuously improve 60% ~70% of CCB teams improved YoY
Toolchain agile practices to free engineer of teams performance on agile practices
capacity
Exceeded 80%
2022 target
PLAN
STABILITY
100% 99.9% change success rate while
Minimize failed changes and of apps change volumes have gone up ~60%
…tracking towards ~100% unplanned outages
Toolchain adoption by YE 2023
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2 Strengthen our software development capabilities and infrastructure
Our modernization strategy is enabling us to deliver significant value across the business
Innovative API-driven
Each payment capability Running on public cloud,
15 Chase.com releases platform to automate
built with its own enabling real-time audit
weekly, 2 mobile app partner onboarding and
independent component trail calculation and report
releases monthly simplify integration with
architecture generation
Chase ecosystem
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3 Unlock the power of data
We continue to prioritize our investment in Data and AI/ML, and see increasing value in our businesses
WE EXPECT TO BEAT OUR AI/ML IMPACT TARGETS CONTINUING TO ACCELERATE THE POWER OF OUR DATA AND AI/ML
3.6x
900+ 600+
data scientists ML engineers
$1.5B target
200+ Ranked #1
2021 2022 2023 AI researchers Evident AI Index1
Select thematic examples across our 300+ use cases in production Expanding our technology platforms
Personalization of products Deepening client relationships ⚫ Integrating ML Ops capability to support teams to develop
and experiences for retail through improved analytics and models faster and measure performance
customers insights
~25 use cases ~60 use cases ⚫ Increased use cases leveraging firmwide model development
~$220mm impact in 2022 ~$100mm impact in 2022 and training platform by 2.2x YoY
1 JPMC ranked number one in the Evident AI Index (January 2023), the first public benchmark of major banks on their AI maturity
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4 Protect the firm and our customers
We continue to evolve our best-in-class Cyber capabilities through a dynamic threat environment
MANAGING EXPENSE WHILE DOING MORE CREATING VALUE WHILE PROTECTING THE FIRM AND FINANCIAL SERVICES
INDUSTRY CRITICAL INFRASTRUCTURE
+22%
Security alerts Further strengthening access and authentication, improving user experience while
processed per day lowering the burden of managing passwords
2022 2023
2022 2023
Reduced required actions and introduced straight-through-processing for cloud
+66% regulatory compliance resulting in automated approval for over 60% of deployments
Cybersecurity exercises
and simulations
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We are well positioned to lead across our businesses, backed by resilient, innovative technology, for years
to come
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Improved speed-to-market of
Ahead of our plan to deliver Creating value while
product features by 20%
$1B business value protecting our Firm and
Continued to release new
$0.5B productivity impact customers
products and experiences that 300+ use cases in production
delivered against $1.5B target
delight our customers Optimizing our expense
$1.5B value target to be
~100% Enterprise Toolchain while volumes increase
delivered by year-end 2023
adoption by year-end