J.P. Morgan plans to expand in Greece

The Payments Innovation Lab is set to provide research and developments within the payments business at a global scale, including working with Onyx by J.P. Morgan, the company’s business unit that leverages technologies of the likes of blockchain to develop financial services products, platforms and marketplaces for the firm and its clients in an innovative manner. Following its inauguration, the centre will have as its primary focus the support for the development of solutions around distributed ledger technology, artificial intelligence, and cryptography related to payments systems.

With the intention of having a local payments research and development teams, J.P. Morgan is looking to hire around 50 employees to the Payments Innovation Lab in an initial state, including payments product, as well as engineering specialists. J.P. Morgan’s employees which are currently working across the Corporate and Investment Bank and Asset and Wealth Management businesses, that are already based in Athens, will also be moving to the new office. Additionally, as per information provided in the press release, the firm is in active discussions around securing real estate for the accommodation of this expansion.

With the company looking to have a leading place when it comes to payments innovation, they believe that the new location will help be a key point in the company’s work towards this goal by having established a tech centre that can benefit from the technology and engineering skills of local people. Recruitment for the Payments Innovation Lab is set to begin immediately and will also include the head of the division, which is expected to be announced in the following months.

J.P. Morgan has been established in Greece since 1968 and provides Greek clients with access to products and services from across their investment banking, payments, and asset and wealth management businesses.

JPMorgan Chase company information

JPMorgan Chase is a US-based financial services firm that has operations worldwide and provides investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. As of September 2022, JPMorgan Chase had USD 3.8 trillion in assets and USD 288 billion in stockholders’ equity. The firm helps serve millions of customers in the US, as well as corporate, institutional and government clients globally under the J.P. Morgan and Chase brands.