Building the future of banking


Chad: No, I think it definitely is both. You do worry because the slightest issue can impact a large customer base. So that is the downside, is that you’ve got to make sure that you think about resilience in everything that you do. that is kind of the embedded culture of Chase is that we know that we have a very large scale at JPMorgan Chase, and we’ve got to make sure that we always consider that because the smallest impact could have an impact on thousands of customers. And so, we want to make sure that we take that into consideration in all that we do. But it also is a huge opportunity because if you can build technology that truly scales automatically to be able to support one of the largest financial institutions in the world, you can do that anywhere. And I think that that is a challenge that we take with a badge of honor, that we can develop technology that truly can scale to the largest workloads and provide the best experiences for our customers.

Laurel: Speaking of the future, how do you see the future of banking over the next decade? How is it going to evolve and what innovations are you excited about?

Chad: Yeah, that’s a great question. I mean, the future of banking will include new types of products, products which may span traditional lines of business. Maybe today, credit card, lending and deposits maybe looks very different in the future, or maybe you have one product that can cross over various products like we have today. And so, I see the products themselves evolving in the future. We’re already starting to see some of that in the market today. We also see products that are going to take more advantage of intelligent uses of real-time data to react to the customer quickly, to provide insights to them in a real-time basis to make them have the most relevant data, to make the best experience decision for their lives.

And we want to consider that these may potentially include alternative experiences as well. Maybe it’s not a traditional mobile application, maybe it’s an embedded experience in another application, and we need to think about how the products that we build can provide in others as well. Additionally, we know that big tech institutions are going to continue to build and offer their own financial products as well, so we must have platforms that allow for us to quickly create, innovate, and differentiate the products that we offer for our customers , incorporating the best use of design and data, and this platform flexibility and speed ensures that we can always bring the best innovation to our customers.

Laurel: I really like that, create, innovate, and differentiate. Chad, thank you very much for being a guest today on the Business Lab.

Chad: Yeah. No, thank you for having me, I really appreciate it.

Laurel: That was Chad Ballard, head of global platform tech, consumer and community banking at JPMorgan Chase, who I spoke with from Cambridge, Massachusetts, the home of MIT and MIT Technology Review, overlooking the Charles River.

That’s it for this episode of Business Lab. I’m your host, Laurel Ruma. I’m the global director of Insights, the custom publishing division of MIT Technology Review. We were founded in 1899 at the Massachusetts Institute of Technology, and you can find us in print on the web and at events each year around the world. For more information about us and the show, please check out our website at

This show is available wherever you get your podcasts. If you enjoyed this episode, we hope you’ll take a moment to rate and review us. Business Lab is a production of MIT Technology Review. This episode was produced by Giro Studios. listening.

This content was produced by Insights, the custom content arm of MIT Technology Review. It was not written by MIT Technology Review’s editorial staff.

This podcast is for informational purposes only and it is not intended as legal, tax, financial, investment, accounting or regulatory advice. Opinions expressed herein are the personal views of the individual(s) and do not represent the views of JPMorgan Chase & Co . The accuracy of any statements, reported findings or quotations are not the responsibility of JPMorgan Chase & Co.


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