As banks across the world cope with an upcoming crunch in the availability of skilled professionals, JPMorgan is looking to dispel the illusion of banking as an IT backwater bogged down in rules and regulations with little appeal to the next generation of coders.

"We are not your grandparents’ banking products team. Nor are we a “startup” within a bank," states the job ad. "We are a small, focused team of passionate engineers, data and business people and designers set on creating and building products that can transform the way we and our clients do business."

The Corporate and Investment Bank at JPMorgan has recently set up a new business transformation team charged with performing front-to-back reviews of each line of business. The team will be expected to perform multiple reviews of different business areas throughout the year, going across the whole trade lifecycle from execution to settlement with a brief to cut costs and improve efficiency.

While acknowledging that the firm may not be as flexible or agile as a Silicon Valley startup, the ad for product developers talks up the technological forces of change which are driving innovation in banking. New recruits will get the opportunity to "interact with insanely large and fascinating data currently not available anywhere else," says the bank. They will also get to "develop products that can change the way 1000s of clients operate, and how banking is done today".

As a further incentive, the banks spells out its forward-thinking credentials in the qualities required for future recruits: "You care about disruption and have opinions on the future of banking, the payments system, and how to improve upon our existing financial infrastructure. You have an opinion on bitcoin and other cryptocurrencies."