JP Morgan to open Payments Lab in Greece

By Gloria Methri

JP Morgan plans to open a new office and a new Payments Innovation Lab within that office in Athens, Greece. The company aims to support the organic growth of its businesses in the country, for which it will hire a research and development team locally.

JP Morgan intends to initially hire around 50 employees to the Payments Innovation Lab, including payments product and engineering specialists.

The office will be the new location for its current Athens-based employees in JP Morgan’s Corporate & Investment Bank and Asset & Wealth Management businesses. 

The Payments Innovation Lab will provide research and development to the Payments business globally, including working with Onyx by JP Morgan. From the outset, the centre will concentrate on supporting the development of solutions around distributed ledger technology, artificial intelligence and cryptography related to payments systems.

Takis Georgakopoulos, Global Head of J.P. Morgan Payments, said, “We want to stay at the apex of payments innovation, and our new location in Athens will be a key nerve centre for our cutting-edge payments’ innovation work. The firm has a track record of establishing successful tech centres that benefit from the renowned technology and engineering skills of people locally, and this exciting expansion brings that strategy to Greece in the payments space.”

JP Morgan is in active discussions around securing real estate for the new office, and recruitment for the Payments Innovation Lab will begin immediately, including for a head of the division.

Stelios Papadopoulos, Senior Country Officer for J.P. Morgan in Greece, said, “Our investment in a new office and local, highly skilled talent is a testament to J.P. Morgan’s long-term commitment to Greece. We are looking forward to growing our franchise in this market and to continue serving local and international clients from this new home.”