Innovation at home: How JPMorgan's wholesale payments team adapted to a pandemic

PayDirt: A PaymentsSource Podcast with Daniel Wolfe

For a major bank, is it possible to be just as innovative — or even more so — when going fully remote? PaymentsSource executive editor John Adams talks to JPMorgan Chase's Tammy Petro about the unique challenges faced by the bank's wholesale payments business.

The coronavirus pandemic exposed a lot about how reliant our financial services infrastructure is on in-person interaction — and whether smaller fintechs are truly nimble enough to adapt to a full work-from-home environment.

JPMorgan Chase's wholesale payments innovation team lives somewhere in between those two worlds. It already had flexible work arrangements, but that doesn't mean it was ready to go fully remote at the drop of a hat. And any hiccups in its workflow can weigh on the process of innovation.

But what are the issues that arise with B2B clients, such as accessing remote systems when their hardware token is stuck in an office they've been locked out of? What about communicating with other parts of the bank that have different technologies and different needs?