AFTAs 2015: Best Data Management Initiative—JP Morgan Chase

But JPMorgan has been aggressive in addressing its data management needs, resulting in it winning the best data management initiative category in the 2015 AFTAs. 

Through its Enterprise Data Platform Initiative (EDPI), JPMorgan has created a real-time, fault-tolerant, scalable platform that delivers the core underpinning its asset management business. Prior to the initiative, teams collected data from the front (trading data), middle (operations data) and back (finance data) offices in an inefficient, error-prone way. All of this information was then stored across numerous databases serving various business groups. As a result, it was difficult to unravel and gain meaning and linkages between silos. But what was once disparate has, thanks to the EDPI, become unified and automated.

Officials at JPMorgan say the platform’s greatest strength is its ability to make high-volume data available as a real-time stream for consumption across the business. It has also helped in cost cutting and finding efficiencies, given that the EDPI has allowed the firm to remove redundant databases. Additionally, as new regulations come rolling down the pike, the firm can now more easily answer new reporting demands and regulatory mandates without having to create new solutions to meet those demands. Users can also build client-level views for reporting, including exposure, risk, individual holdings, and transactions.

But perhaps the greatest byproduct of the initiative has been the creation of a single source of truth for the asset manager’s core data. This allows it to deliver consistent data models across the organization to support real-time decision making. It has also allowed JPMorgan to improve risk management processes and data protection; it has reduced complexity for data governance and regulatory activities; it has improved information security and data classification processes; and it has reduced complexity for business intelligence and analytical reporting.

Data management will never be easy, but it becomes increasingly complex if you don’t have a unified strategy. JPMorgan has addressed that issue and appears well-prepared for future regulations and data needs.

The platform’s greatest strength is its ability to make high-volume data available as a real-time stream for consumption across the business. It has also helped in cost cutting and finding efficiencies, given that the EDPI has allowed the firm to remove redundant databases.