Today the Financial Solutions Lab (FinLab) at the Center for Financial Services Innovation (CFSI) with founding Lab partner JPMorgan Chase & Co. (NYSE:JPM) announced eight financial services innovators as the winners of its third competition, aimed at identifying solutions that can help Americans improve their financial health.
Chase customers now have broader access to an easy, safe and fast way to pay other individuals through the ZelleSM network.
JPMorgan is to use technology from the company behind the Zcash digital currency to add a new layer of privacy protection to users of its enterprise-grade Quorum blockchain platform.
JPMorgan Chase has joined a $50 million funding round for LevelUp, a Boston-based mobile payments service that lets customers order ahead at partner restaurants.
Citi has become the latest Wall Street giant to join a Series A funding round for Axoni, bringing the total amount raised by the distributed ledger technology outfit to over $20 million.
A collection of Ohio financial services firms, including KeyBank and FifthThird, have banded together to back a new fintech accelerator in the state.
JPMorgan Chase has formally exited blockchain consortium R3, following in the footsteps of fellow titans Goldman Sachs and Banco Santander who split last November.
The American bank-backed Zelle network processed 170 million person-to-person payments last year boasting an aggregate transaction volume of $55 billion, more than double that of PayPal-owned rival Venmo.
JPMorgan, Northern Trust and Banco Santander have teamed up with vendor Broadridge Financial Solutions to pilot the use of blockchain technology for proxy voting.
JPMorgan Chase spent around $600 million on emerging fintech solutions last year, says the bank's CEO Jamie Dimon in a letter to shareholders which also mentions an API store and some "interesting developments" in the bill payments department.
© Finextra Research 2017