J.P. Morgan

Shaping the future of connected commerce

For more than 200 years, with clients in more than 100 countries, and one of the most comprehensive product platforms available, J.P. Morgan has been a stalwart in the financial services industry. While it would be easy to lean on its accomplishments, it recognizes the imperative to continually evolve and reshape its business—ensuring success for the next 200 years. 

As part of its overall digital transformation efforts, the company sought to evolve the J.P. Morgan Payments line of business, which included reimagining its presence in the market and strengthening its connection with customers. To do so, J.P. Morgan launched Commerce Solutions, a next-generation suite of payments infrastructure and applications that help merchants accept consumer and B2B payments across any touchpoint. 

Challenge

To show the potential of Commerce Solutions to the market, J.P. Morgan needed to define new go-to-market motions across its Payments line of business with the focus of clearly communicating with, and engaging, new decision-makers involved in the buying process. To help, the company partnered with Studio Science, leveraging our experience in shaping modern technology platforms and businesses.

J.P. Morgan understood it needed to do more than talk the talk. It needed to walk the walk by showing up in places they had never been, and engaging with the market in ways they hadn’t before. This included developing an event strategy to showcase its product in real time in the hands of technology leaders and retail innovators. 

The debut of Commerce Solutions and its next generation applications was slated for Shoptalk, the world’s largest conference focused on the future of retail. With only a couple of months before the event, we needed to get started in earnest.

Solution

Before the J.P. Morgan Payments team could showcase its future vision for customers and prospects, it needed to convey the importance and value of adopting this new direction internally. We helped make the case by developing and refining narratives and simulations to align initiatives and cast a unified vision for what could be. By engaging stakeholders at all levels early, we were able to build critical momentum for the public debut of the product suite. 

For the event itself, we developed product demonstrations to highlight three critical focus areas within Commerce Solutions.

One, alongside J.P. Morgan and a global beauty products retailer, we demonstrated a simulated omnichannel approach to showcase how a brand can better connect with its customers across channels and experiences. We highlighted this by creating real-world simulations of consumer and store associate mobile apps with features such as: embedded payments in consumer and store associate mobile apps, buy online and pick up in store, connecting online and in-store payments, and enriching customer profiles and subsequent marketing initiatives using a unified payment history.

Our second focus area honed in on showcasing the possibilities and advantages of using biometric payments. 

While this is not exactly what biometrics look like today, we demonstrated the future of payments by showcasing how users could use biometric data moving forward for frictionless payments, having the user go through a simulated enrollment process and checkout process where they could scan their palm to pay.

Our third and final focus area centered on developers and IT teams. Knowing CIOs and their teams are far more engaged in the buying decisions of today, we showcased two new critical resources – J.P. Morgan’s Developer Console and the Payments Partner Network – focused on putting additional tools and support in the hands of developers. These tools allow IT and technology-focused teams to engage and enrich existing payments workflows (such as managing payouts to influencers or other third parties) and supplement their technology stack with integrations from today’s leading commerce solutions.

Impact

Throughout the event, the team engaged with hundreds of current and prospective customers, instantly changing the perception of J.P. Morgan to a modern and agile player in a rapidly evolving market.

By using a human-centered design approach, we were able to shape how customers will not only engage with, but also use the upcoming Commerce Solutions suite of products and visually communicate a new narrative worthy of a global payments enterprise.

Focusing on its customer experience, J.P. Morgan was able to shift the in-market narrative and lay a foundation for further digital transformation that will allow it to continue to modernize and scale its customer journey for years to come.

“Thank you for the creativity, flexibility, and partnership in bringing our products to life in a new way. I appreciate your ability to push us out of our comfort zone and help us see things differently than the traditional lens we had been viewing things through.”

Michele Davolos – Executive Director, Payments Product Marketing

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