JP Morgan’s Fintech Hub Gaining Traction

March 14, 2016         By: Ryan Kennedy

JP Morgan’s financial technology hub in New York is gaining attention among both financial and technology circles.

Located on Manhattan’s West Side, the massive fintech center has all the signs of a tech startup. A game room, game consoles, pool tables and guitars all adorn the rooms of the hub.

Financial powerhouses like JP Morgan are moving rapidly to adjust to the growing fintech scene by emulating the tech lifestyle of Silicon Valley.

The office was opened in December and hosts close to 700 employees, mostly web developers and coders. The office is split into five sections, named after the five boroughs of New York City.

The hub helped redesign JP Morgan’s website, which launched earlier in the week. The new redesign was an effort by the bank to move further into the digital age, with the new page sporting easier navigation and a sleek new newsfeed.

It now appears that financial companies are transitioning into pseudo-tech companies. Many top executives across the financial industries have said as much, claiming that fintech was too disruptive to ignore any longer.

Considering the fact that JP Morgan is the largest American investment bank by assets, this trend may start to spread to other firms more rapidly now.