JPMorgan Chase is implementing enterprise resource planning software from Sap as part of a long-term plan to improve financial reporting and analysis across the group.
The bank says it will use the mySap ERP system to consolidate domestic ledger processes onto a single platform, which will simplify its operating model and reduce costs.
Scott Pankoff, CTO, global finance technology, JPMorgan Chase, says: "The Sap solution will help us better analyse our financial and business performance."