BusinessWeek Names JPMC One of World's Most Innovative Companies
Due to Tech Investments
BusinessWeek has ranked JPMorgan Chase among the world's 50 most innovative companies in its April 20, 2009 issue.
JPMC is one of 15 newcomers to the list—a reflection of the "seismic shifts" upending entire industries due to the sudden reversal of the global economy, BusinessWeek writes. Only two other financial services companies made the list this year.
The ranking is based primarily on responses to a 20-question poll sent to senior executives around the globe.
The 2,700 respondents were asked to name companies that consistently offer inventive products, customer experiences, business models or processes. (Those who voted for their own companies were disqualified.)
Sixty-two percent said JPMC is known for its innovative processes.
BusinessWeek cited the bank's technology investments, particularly in the paperless arena—and specifically highlighted envelope-free deposits at Chase ATMs.
At 49%, Wal-Mart was the next runner-up in the Process category, followed by ExxonMobil, with 47%.
Britain's HSBC was the only other financial services company on the list to win high marks for process (32%). Also on the list is Spain's Banco Santander, which won kudos for its business model (37%).
Last year, five financial services companies—American Express, Bank of America, Goldman Sachs, HSBC and ING—all made the list.
(courtesy JPMC newsletter)