JPMorgan acquires Systems & Services Technology

JPMorgan's institutional trust division is to acquire Missouri-based Systems & Services Technologies (SST). Financial terms were not disclosed.

Be the first to comment

JPMorgan acquires Systems & Services Technology

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

SST provides a range of asset services, which include active and back-up servicing, for various lending institutions, finance companies, and banks.

Under the terms of the transaction, SST will operate as a subsidiary within the bank's institutional trust services division.

Michael Clark, executive vice president and business executive for JPMorgan institutional trust services, says: "Adding SST's capabilities to JPMorgan's current asset servicing resources, including its mortgage, automotive finance, and credit card operations, will provide an unparalleled combination of servicing and back-up servicing solutions to our clients."

SST has a staff of more than 800 people and currently maintains an active asset servicing volume of nearly $3 billion in receivables.

Sponsored [Webinar] Exploring the ethics of AI in banking

Related Company

Keywords

Comments: (0)

[Webinar] The Automation Imperative in Asset ServicingFinextra Promoted[Webinar] The Automation Imperative in Asset Servicing