J.P. Morgan taps Acin for its operational risk management & benchmarking platform

By Pavithra R

J.P. Morgan, a leader in financial services, has announced expanding its use of the Acin platform to cover its Global Markets business.

Acin is a SaaS company pioneering the global standard for non-financial risk management. Its digitized platform and peer-to-peer network for operational risk management enables J.P. Morgan to access benchmarking data for risks and controls. This will complement the existing operational risk management practices established within J.P. Morgan.

“Our established operational risk management frameworks enable the firm to monitor key areas of risk. The Acin platform and network will enable additional efficiency and a further source of practical validation,” said Jamie Hamilton, Global Head of Markets Business Control Management, J.P. Morgan.

The partnership between the companies began two years ago when J.P. Morgan began using Acin’s platform within a subset of the trading businesses. By expanding the scope of use, J.P. Morgan will be able to further validate aspects of ongoing operational risk management and assessment. This will be achieved via Acin’s benchmarking capability, through which customers can continuously assess risk and controls against anonymized peer data.

“With Acin’s operational risk management and benchmarking platform we are supporting clients in digitizing, visualizing and calibrating operational risk. It’s testament to our solution that, having successfully piloted the Acin platform within a subset of its trading businesses, one of the world’s largest and most innovative banks has deployed it throughout its Global Markets business. As Acin’s platform is adopted by other leading investment banks, the breadth and depth of the data it provides increases further, lifting standards across the whole industry,” said Paul Ford, CEO and Founder of Acin.

Founded in 2018, Acin is on a mission to make financial institutions safer and transform the industry’s approach to non-financial risk, through the use of data. Many leading global financial institutions are Acin customers, leveraging the collective power of the Acin Network to make better informed risk decisions and increase operational resilience.