J.P. Morgan utilises H4’s documentation tech for global custody

By Sunniva Kolostyak

J.P. Morgan has implemented H4’s documentation technology into its Global Custody business to transform client onboarding and reuse data for a digital library.

H4, a platform for document creation and analysis, allows J.P. Morgan Global Custody to become more efficient by reusing data contained in different documents and opening for collaboration across client relationships.

With a successful pilot in the Global Custody Business, H4 and J.P. Morgan is looking to roll out the documentation solution across the bank’s Securities Services business in the coming months.

Commenting, Mike Hughes, Managing Director and Head of Global Custody at J.P. Morgan, said H4’s technology is transforming data management and contract creation of its global business.

“By embedding H4’s technology into the way we work, we increase efficiency, control, data management and most importantly, our team of business and legal professionals can serve our clients in a more efficient manner.”

“We’re excited for the future as our collaboration on the platform develops. It potentially creates an ecosystem for J.P. Morgan and its clients to negotiate and alter contracts real-time in a controlled environment. This technology will allow for efficient collaboration at an important stage of the new client relationship, an additional tool for effective onboarding, all fitting squarely within J.P. Morgan’s Securities Services data-focussed strategy.”

H4 was developed through J.P. Morgan’s In-Residence Programme which incubates emerging technology companies to develop production-ready solutions solving for critical wholesale banking problems. In May 2020, J.P. Morgan was part of a consortium to invest in the start-up.

The J.P. Morgan team has also used H4 to assist with the capture of critical data elements from their historical agreements, allowing ease of the business line review and the ability to drive analytical reporting at the client and business level.

Joe Seifert, CEO & Co-Founder of H4, added: “Many FinTech CEOs I speak to are frustrated by the lack of client understanding and urgency around tech adoption despite the rhetoric. It requires business leaders to ‘get it’, make bold choices and lead the change. The J.P. Morgan Securities Services team is helping to lead the industry and have been outstanding partners.”