Databases and Data Warehouses

JPMorgan Chase employees use various forms of technology every day. Most programs and databases are created and used for the retail sector of the company. These programs include, but are not limited to, “Teller Express”, “Customer Assist”, “Outlook”, “Internet Explorer”, “Training Central”, and “Contact Manager.” Databases can be found in “Teller Express”, “Customer Assist”, and “Contact Manager”. These three programs were created and maintained by employee teams at JPMorgan Chase. Each of the programs contains databases of customer information such as account numbers, account balances, contact history, address information, etc. Information is entered into the customer profiles by personal bankers, tellers, and other branch employees such as managers and SSAs which stands for sales and service associates. This information is obtained through contact with the clients, as well as clients’ transactions such as updating their contact information online or when they make a purchase or transfer that changes their balance. The programs are also able to track who viewed the information and also what was viewed and when. The database found in “Teller Express” contains the least information of the three programs. The only information that can be viewed is account numbers, balances, and customer addresses. If an employee needs to research anything for a customer, they would need to use “Customer Assist” because that database holds the most information. Managers can obtain information reports from any of the three programs. In “Contact Manager” and “Customer Assist”, reports are detailed, but tend to be based on individual clients; such as past and present customer transactions and clients’ contact notes which have been entered by other employees. The reports from Teller Express are less detailed but contain information drawn from a broader spectrum. For example, the program would allow you to print all monetary payments made on a specific day. Such reports can be obtained for any type of teller transaction on any specific day.

The investment banking sector of JPMorgan Chase uses “DataQuery.” This is a research tool used through “MorganMarkets” which is a research and data portal for institutional clients. “DataQuery” is an online interactive application. It pulls historical financial data from various locations before analyzing and charting it into one single database. “DataQuery” allows clients quick and easy access to view hundreds of thousands of data entries that could be beneficial to their purchasing and trading of investments. JPMorgan Chase uses OLAP which is an online analytical processing that allows the manipulation of information to support decision making. A data warehouse is a logical collection of information and is necessary for JPMorgan Chase to create customer relationship activities, strategies, and campaigns. By creating this data warehouse employees can view all transactions each customer has made at a given time any time, check opportunities, and study the different market for prospect customers.

The data mining tools are used to manipulate the data warehouse information and depending on which department needs this information, it can be small or big; the goal is to create business intelligence. An example of how JPMorgan Chase can use this tool would be in the case of the receivables department who create a data mart. Data marts are a subset of a data warehouse this is where a focus portion of the data warehouse information is kept. An example could be seen in the accounting department where one would be created to allow this department to have specific information based on the needs of a customer, making this data mart manageable considering the particular needs to the individual receivables items. JPMorgan Chase’s browser-based capabilities streamline exception management through structured workflow, enabling online dialogue, intraday decision-making, and automating decision-making within client-established parameters. For example, the capability to assign company distinct reason codes and to create notes to transaction allows clients to document their findings related to the individual.

All this processes have a correlation because data mining tools are to data warehouse users what data manipulation subsystems tools are to database users. Then, the data warehouse system has the responsibility of converting logical requests into physical equivalents through query and reporting tools, intelligent agents, as well as, multidimensional analysis tools and statistical tools. The software used for this department is Real-Time which supports a collaborative environment for trend analysis and benchmarking. Daniel D’Silva is the Senior Vice President and receivables executive for the treasury service business of JP Morgan Chase. With over 15 years of cash management experience, he is responsible for strategy, execution, technical sales support and delivery of the receivables products and service.

Jamie Dimon - A CEO that is on target!

“Jamie Dimon–A CEO that is on target!” by The Sales Cooke is a brief article which explains some key points about keeping a business not only afloat but also successful. These points were obtained from a presentation made by Mr. Dimon which stuck with the author of the article the most. The first point brought to the spotlight is “businesses are good at wasting money.” This is something that most would never expect would be said from the mouth of the CEO of a large corporation. When he explains why he feels this way, it makes perfect sense. Jamie Dimon enjoys spending money, he will not deny that, but he thinks instead of cutting costs they should cut wastes, because then you can spend money on things that matter. Such things that would be wise to spend money on would be ones that benefit employees such as better compensation, implement new technology, and other company procedures, such as marketing and advertising. The second point we see is that employees should “build a great company every day and the share price will take care of itself.” Mr. Dimon feels that if employees put their best efforts into their work every day, not just when something is due or they’re up for review, the company will be more successful. This success is not only measured in client satisfaction but also share prices. He says “focus on excellence and the profits will come.” The third, and final, point addressed by the author is “I am not a ‘rock star’; I am part of a team.” Jamie Dimon acknowledges that he is the main figure associated with Chase, but he wants the public to know that the entire staff deserves recognition. He is not the only one doing the work and feels that the company’s “accomplishments are attributable solely to the teamwork that is occurring within the organization.” The author only chose three main points addressed during Jamie Dimon’s presentation, but they show how Chase’s leader works with his staff to ensure success in their business planning and strategies.


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Business Strategy - E-Commerce, Marketing Mix, and more

JPMorgan Chase is innovative in the area of E- Commerce. They offer online and mobile banking. Online banking allows customers to access their account by a user name and password at www.chase.com. After entering their login information, they can manage their checking or savings account, loans, lines of credit, credit cards, and any other account they have with JPMorgan Chase. One can check their account balances, due dates, schedule payments and/or transfers, and many other services. Mobile banking allows customers many of the same features as online banking but just on their cell phone through a downloadable application. JPMorgan Chase as also created an application for Apple’s iPhone which enables a customer to take deposit a check into their bank account without actually having to go to a branch or ATM machine. All you have to do is take a picture of your check and the funds are then deposited into your account. This feature will hopefully be available on other smartphones. In the meantime, one have account notifications sent to their phone in the form of a text message advising when a deposit is made, you account reaches a certain balance, and so much more. JPMorgan Chase is taking advantage of the technology offered in today’s world.

JPMorgan Chase uses two E- Commerce Business models, Business to Consumer (B2C) and Business to Business (B2B). Business to Consumer E- Commerce occurs when a business provides products and services for customers who are individuals rather than entities. This is done through various online features such as the ability to make transfers, deposits, and view accounts via JPMorgan Chase’s website and through cell phone applications. Business to Business E- Commerce is seen through JPMorgan Chase’s various business clients. Though the products and services of JPMorgan Chase are not flashy and visible by customers, they make running and operating the business much more convenient for the business owners. JPMorgan Chase is also very willing to work with their business clients regarding fees to help keep costs down and earn customer loyalty. Business clients make a lot more money for JPMorgan Chase than their consumer clients because they do business on a larger scale. The same features that are offered to the consumers are also offered to business clients. Aside from the basic features, they also provide various features such as merchant services which allow business clients to accept payments in the form of credit card transactions.

JPMorgan Chase uses various promotional marketing tools to reach its customers. These tools are primarily seen on line. JPMorgan Chase uses online ads to get its name out to customers. For example, they place ads on the side of Facebook pages. Facebook has over 500 million active members, many of which log on to the site daily. The sheer volume alone guarantees millions of people will at the very least see their logo almost every day. The company has also teamed up with Facebook to create page sponsored by JPMorgan Chase that allows people to get involved. It is called “Chase Community Giving” and allows users to vote on which charity or organization the company will make a donation to. It also provides links back to the company’s main website. Not to mention JPMorgan Chase does heavy advertising to their active customers. When logging into your online account, you are bombarded with ads about other products and services offered by JPMorgan Chase. They also advertise on billboards and invest in ad spaces on buses and taxis.

In the business portion of JPMorgan Chase, the main form of marketing is the actual relationship ratio. By having a deepened relationship with each business client, the company is able to ensure a lasting partnership and expand their business by word of mouth. They have several referral programs and offer rewards to their customers for any referral which results in a new relationship with JPMorgan Chase. The company tries to provide the business client with as many products and services as possible on top of just deposit accounts. These products include loans, lines of credit, and credit cards just to name a few. Another way the relationship is deepened is through the “Chase at Work” program. This is when the company agrees to have JP Morgan Chase employees come to their office(s) and lets them sit down with the company’s employees to open deposit accounts and give them information on the other products and services that are offered. This personalized service gives the business client confidence in knowing they are backed by JPMorgan Chase every step of the way.

JPMorgan Chase offers various payment options for its customers. Online banking is a very easy and convenient option for customers to make payments. It also allows them to see their available credit, credit limit, outstanding balance, transaction/payment history, minimum amount due, and the due date. All the customer has to do is sign on to their online banking, scroll to the account they would like to make a payment on and select the “make a payment” option. This brings the customer to a screen that allows them to select the checking/savings account that they’d like to use to make the payment and it auto fills the rest. This option can also be used on mobile phone applications. Aside from using online banking to pay JPMorgan Chase bills, the customer is also able to set up payments online for any bill that they have to pay. This process is similar to paying a JPMorgan Chase bill, except the customer must fill in the account number, address, etc of the account they’d like to make a payment on.

Another payment option offered to JPMorgan Chase customers is pay by phone. Customers can contact the number on their billing statement or on the back of their credit card to make payments. They can decide if they’d like to use an automated program or if they’d like to speak directly to a customer service agent to make the payment. This is a terrific service for clients who are not computer literate and are unable to get to a branch in order to make a payment. JPMorgan Chase also allows their customers to visit a branch location to make a payment Branch employees, primarily tellers, are able to process the payment through their “Teller Express” system. Customers can obtain in depth information on their accounts to ensure that proper fees and amounts are paid. They also do not have to worry about having their statement because employees are able to pull up account numbers and fill out “counter payment coupons”, which are generic payment forms that can be used in place of a customer’s personalized slip, for the customers.

Aside from various payment methods offered to JP Morgan Chase customers to pay bills, loans, and lines of credit held with the company, it also offers business and personal clients various ways to make purchases and payments for everyday things, involving business outside of the company. These methods come in the forms of checks, debit cards, and credit cards. All these are available to both business and personal clients. Checks can be used to pay for in store purchases or pay bills through regular or snail mail. Checks, from JPMorgan Chase or any other financial institution, can also be used to make payments on JPMorgan Chase credit cards, loans, or lines of credit. They are considered negotiable items and are easy to obtain. Each check has a MICR line, which includes your bank’s routing number, your account number, and a check number. This allows customers to feel safe when using checks as a form of payment, because JP Morgan Chase ensures that duplicate checks cannot be accepted and stop payments can be placed on specific check numbers in case a check is lost or stolen.
Debit cards, which are implementations of the smart card concept, are very similar to checks but do not require customers to write out negotiable items. They have the appearance of a credit card, but are linked to the customers’ checking account. Whenever a purchase is made the purchase amount is deducted directly from their account. You can either use your debit card as a debit card, where you enter your pin number, or you can use it as a credit card. If you use your debit card as a credit card, you just sign for the purchase, just like you would when using a regular credit card at no additional cost to you. By using the credit option, JPMorgan Chase gives its’ customers points which can be used to earn rewards once the customer earns a certain amount, typically the minimum is 2,000 points.

The last payment option available to JP Morgan Chase customers is credit cards. The company offers various credit cards with numerous reward options. This gives customers a lot of choices to earn things back on everyday purchases. Each customer is allotted a credit limit which they must stay within to avoid fees and they are required to make payments each month. This is convenient if a customer would like to make a large purchase but is unable to afford it all at once. JP Morgan Chase is constantly trying to come up with ways to make the lives of its clients easier, and the many payment methods is simply one way they are able to do that.

Aside from offering numerous ways for customers to make payments, JPMorgan Chase has just created a new way to pay off credit cards. This new feature is called “Blueprint.” It offers various options such as setting up certain categories that you wish to pay off in full to avoid paying interest and paying off larger purchases by splitting them up and setting a goal payoff date or monthly payment. Other things that customers are able to do with “Blueprint” are tracking your spending habits and where you are with the goals you set for paying off large purchases. Lastly, “Blueprint” allows you to set up your own payment plan which enables a customer to decide how long they want to pay off their balance with a payment amount they know they can manage. This new feature is something not offered by other institutions which is likely to draw new clients to, as well as, keep current clients at JPMorgan Chase.

In addition to the various payment methods offered to their business and consumer clients, JPMorgan Chase has also teamed with several businesses to offer easy and manageable billing and payments options. Businesses are now able to receive payments and invoices electronically, which allows for easier tracking and management. Businesses no longer have to deal with sifting through large stacks of paper invoices and worry about paying something late and face a late payment fee. They are able to keep tighter track of expenses and analyze spending easier to cut costs. It also allows the company to go green and make less of an impact on the environment because there is less paper which means less trees being wasted.