JPMorgan Chase is to implement a global financial accounting system using Oracle's E-Business software suite.
The Oracle software will be deployed globally by JPMorgan Chase's finance department, as part of a multi-year programme aimed at automating management reporting processes.
Mark Coughlan, JPMorgan Chase chief information officer for corporate business services group, says the finished product should free up finance staff from routine number-crunching chores and provide more value-added information to business lines.
"The Oracle product set provides us with 'straight out-of-the-box' core financial applications that are designed to handle our challenging volumes," he adds.