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Tag: financial services

  • WealthDesk – B2B2C Investment Technology Platform

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by WealthDesk.

    WealthDesk is India’s pioneering B2B2C platform that captures the entire Investment/Asset Management/Advisory value chain from portfolio creation on top of Equities and ETFs which are productized into investment products called WealthBaskets.

    WealthDesk is driving the Investment product side innovation in India. It has 50+ partners who leverage WealthDesk’s platform to realign their broking and advisory offerings. This includes renowned full-service brokers such as Motilal Oswal, JM Financial, Anand Rathi, Prabhudas Lilladher, among others. As a B2B2C SaaS platform in this space, WealthDesk can get B2B on its platform and create a bigger ecosystem at scale.

    StartupTalky interviewed Mr. Ujjwal Jain (Founder & CEO, WealthDesk) to get an insight on the Success Story of WealthDesk. Know all about WealthDesk’s founding team, how it started, growth, future plans & more in this article ahead!

    WealthDesk – Company Highlights

    Startup Name WealthDesk
    Founders Ujjwal Jain (CEO), Yuvraj Thakker (Co-founder & NED)
    Founding Year 2016 (Went Live in 2018)
    Headquarters Mumbai
    Sector Fintech/Investment Platform
    Website wealthdesk.in

    About WealthDesk
    WealthDesk – Founders and Team
    WealthDesk Ideation Journey – How it Started?
    WealthDesk – Product and USP
    WealthDesk – Challenges Faced
    WealthDesk – Growth and Current Status
    WealthDesk – Future Plans
    WealthDesk – FAQs

    About WealthDesk

    WealthDesk is a B2B2C Investment Technology platform founded in 2016. WealthDesk enables portfolio-based investing on top of stocks and ETFs (Exchange Traded Fund) consolidating advisory, broking, asset, and wealth management ecosystem. It is India’s pioneering B2B2C platform that captures the entire Investment/Asset Management/Advisory value chain from portfolio creation on top of Equities and ETFs which are productized into investment products called WealthBaskets; WealthBaskets are enabled for large scale distribution through broking partners with strong network effects.

    Its goal is to make sure all big and small brokers in the country are integrated on the WealthDesk platform on the transaction side (‘UPI’zation of Broking industry) and on the Advisory front, it wants to have some of the Best advisors’ Investment Products (WealthBaskets) on the WealthDesk platform.

    WealthDesk Logo

    With this dual strategy, WealthDesk drives the Investment product side innovation in India on top of Equities and ETFs (beyond Mutual Funds) and build a highly scalable distribution network for distributing these products at scale through the Broking ecosystem. The team is also pretty keen on focusing on the first-time investors as they are digitally savvy and will appreciate the benefits of the advised wealth management.

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    WealthDesk – Founders and Team

    Ujjwal Jain is the founder and CEO of WealthDesk. Yuvraj Thakker is the Co-founder of WealthDesk.

    WealthDesk Founder
    Ujjwal Jain – Founder & CEO, WealthDesk

    WealthDesk Ideation Journey – How it Started?

    Reminiscing the journey towards inception of WealthDesk, Ujjwal Jain (Founder & CEO of WealthDesk) says –

    “I have almost a decade’s experience of working in the fund management industry. During my working tenure with DE Shaw (Wall Street based Hedge Fund), I got an opportunity to shift to Mumbai for a strategic India focused stint, this made me realize the massive India FinTech opportunity in asset management, fund management, advisory and broking. With it, I also realized that while I had demonstrated capabilities in the technology-driven active hedge fund industry, I needed to deep dive into how the Index/ETF-based passive industry works. I then took on a role with the MSCI Mumbai office and worked closely with the MSCI Geneva office which drives the Index business globally.

    In less than two years, I was able to work with the research and products team globally to launch multiple Smart Beta Indices. I also worked on setting up the technology platform for launching ESG based Indices that hold a lot of prominence now. Around the same time, I was also a part of a global team looking to platformize/productize Index manufacturing at scale to reduce turnaround time with clients and compete with new technology focused fintech competitors in Index space. Having built a strong institutional and in-depth understanding of both active and passive funds, I felt ready to explore the Fintech opportunity in India.

    During the research phase about India, I met several brokers and asset managers in Mumbai to understand their challenges and that of the sector at large. That’s when I clearly saw how technology could address most of the challenges that they are facing, and I began working towards it. During my research phase, I also met Yuvraj, who runs a Brokerage house as a third-generation stakeholder.

    We met several times and spent hours/days together in 2015, where Yuvraj gave a sense of the current challenges in Broking and Asset Management Industry as a legacy broker and I could look at these same problems with a complete modern Computer Science mindset. Eventually, we were able to create a roadmap to build WealthDesk platform ecosystem, that incorporated the startup Wealth Technology and Services Private Limited. Yuvraj provided a strong incubation ground within his brokerage house to launch and test the platform between a closed user group.

    We were clear that we wanted to build the platform first. We were sure that once we built a platform that addressed the needs of the industry, we would get customers. So, we began building a B2B2C platform ecosystem for advisors, research houses getting into advisory, brokers and investors on AWS. With its strong Start-up network, constant innovation on cloud, a strong presence in India with a vibrant developer community made AWS our default choice from day 1. It took three years for the team to work and build the platform. In 2018, WealthDesk went live. The team then spent the next year getting brokers and advisors on the platform.  Today, WealthDesk is India’s pioneering SaaS-based Neo AMC platform that powers advisory, broking, wealth management, and portfolio management to retail investors at scale.

    I believe that AWS has been a key enabler in our success story. Even without offering financial services, AWS has played an instrumental role in reshaping India’s financial landscape. AWS is the technological backbone of many FinTech companies, including WealthDesk, where product innovation through engineering is the integral component of value creation”

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    WealthDesk – Product and USP

    The product is the WealthDesk platform and it provides two key offerings – For the retail investors and businesses. WealthDesk is a B2B2C Platform ecosystem with one single SaaS offering of Business platform and multiple WealthDesk Consumer SaaS Deployment(B2C) for Brokers and Advisors.

    WealthDesk Business along with WealthDesk Consumer platform ecosystem enables Brokers, SEBI Registered Investment Advisors, Portfolio Managers, Research Analysts to manufacture and distribute their Stock/ETFs research as an Investable Portfolio called WealthBasket and distribute to Retail Investors through an ever expanding WealthDesk Consumer multi-broker ecosystem with seamless execution.

    WealthDesk solves the problem of retail investors, who look at markets with wealth creation goals. It helps them understand where and how to invest smartly and avoid mis-selling and wrong choices. Given it is still a push-based product, the journey to get first time investors into markets or making someone build a habit for moving savings into investments following a process and with discipline is difficult. Lot of effort needs to be made in that direction as an ecosystem.

    These challenges were met by bringing better Investment Products (WealthBaskets) in Indian markets that were beyond Mutual Funds for retail Investors on top of SEBI Registered Investment Advisory and Research Analyst licenses using Stocks and ETFs. The objective behind WealthDesk is to serve first time to seasoned investors with products previously accessible in the form of investable instruments. Also, drive the future of Digital Asset and Wealth management in India at scale and penetrate markets to a large extent across India.

    Traditionally investors, brokers and their research & advisory arms, SEBI registered advisors and research houses used to work in silos. This model of engagement does not allow them to serve retail investors and traders with right research and portfolio strategies thus leading to suboptimal returns, misalignment of goals/incentives and is operationally non-scalable to build assets under advisory businesses on top of Equities and ETFs, etc.

    Since 2013, regulators like SEBI had already started focusing on bringing transparency in advisory based distribution and streamlining the role of brokers as distributors and the recent draft of this circular (October 2020) is one of the steps in this direction to bring in more transparency, alignment. WealthDesk is pre-empting the eventuality of the industry by offering a platform powered investment instrument called WealthBaskets on top of Equities and ETFs to drive research and advisory based portfolios distribution to retail investors on top of broking. This innovation is the USP of WealthDesk.

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    WealthDesk – Challenges Faced

    Key challenges faced by the team initially was hiring top Engineering talent to build such a deep tech platform in Capital Markets based out of Mumbai. Once a great team was established, there was no looking back.

    Another challenge as well as the opportunity was to make brokers, advisors in the country look at this changing landscape and realize the future and opportunity through the founding team’s lens/vision. Once that was done, WealthDesk began growing organically, with zero sales and marketing spend till now.

    Yet another challenge was to make retail investors look at markets with wealth creation goals and understand where and how to invest smartly and avoid mis-selling and wrong choices. Given it is still a push-based product, the journey to get first time investors into markets or making someone build a habit for moving savings into investments following a process and with discipline is difficult. Lot of effort needs to be made in that direction as an ecosystem. But that is an opportunity also by creating a nudge-based user journey as a platform, provide right content and marketing push to bring the necessary behavioral change. Another opportunity is that as a B2B2C SaaS platform in this space, WealthDesk can get B2B on its platform and create a bigger ecosystem at scale.

    These challenges were overcome by bringing better Investment Products (WealthBaskets) in Indian markets that were beyond Mutual Funds for retail Investors on top of SEBI Registered Investment Advisory and Research Analyst licenses using Stocks and ETFs. The objective behind WealthDesk is to serve first time to seasoned investors with products previously accessible in the form of investable instruments. Also, drive the future of Digital Asset and Wealth management in India at scale and penetrate markets to a large extent across India.

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    WealthDesk – Growth and Current Status

    WealthDesk ended Calendar year 2020 with 20 broker and advisor partners. It has nearly doubled the number of partners in Q1 of 2021.

    Currently, WealthDesk has 50+ partners who have leveraged WealthDesk’s platform to realign their broking and advisory offerings around SmartBeta, Factor based Thematics, Sectoral, Asset Allocation based ETF WealthBaskets that are driving a new product ecosystem.

    This includes renowned full-service brokers such as Motilal Oswal, JM Financial, Anand Rathi, Prabhudas Lilladher, among others.

    Some of the leading investment advisors such as Quantech Capital (OpenQ), Finmo, Renaissance Investment Managers, Tamohara, Wright Research, etc. are on WealthDesk.

    WealthDesk has also integrated with discount brokers such as ICICI Direct, Zerodha and Upstox that allows their users to directly login on WealthDesk.in and invest in WealthBaskets.

    WealthDesk has also seamlessly integrated with 63 moon’s ODIN trading platform; this platform powers 800+ brokers. This partnership brings Advisory based Value Added Broking to all such brokers in a plug and play model.

    WealthDesk – Future Plans

    WealthDesk’s focus for the future has always been on expanding beyond mutual funds and portfolio management services. With the support and help from its partners, the team believes that they can drive the future of investing in Indian capital markets.

    WealthDesk – FAQs

    What is WealthDesk?

    WealthDesk is India’s pioneering B2B2C platform that captures the entire Investment/Asset Management/Advisory value chain from portfolio creation on top of Equities and ETFs which are productized into investment products called WealthBaskets.

    Who are the founders of WealthDesk?

    Ujjwal Jain is the founder and CEO of WealthDesk. Yuvraj Thakker is the Co-founder of Wealth Desk.

    What is WealthBasket?

    WealthDesk Business along with WealthDesk Consumer platform ecosystem enables Brokers, SEBI Registered Investment Advisors, Portfolio Managers, Research Analysts to manufacture and distribute their Stock/ETFs research as an Investable Portfolio called WealthBasket

    When was WealthDesk founded?

    WealthDesk was founded in 2016. The WealthDesk platform went live in 2018.

  • Bajaj Finserv – Learn How To Manage Money Effectively

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    Finance is a word which everybody has come through and will be going through for perhaps ages also. People love money, love to become rich but most of them don’t know how to manage money. It’s not about hope, but it’s all about proper management.

    Read the Bajaj Finserv success story below.

    Bajaj Finserv – Company Highlights

    Company Name Bajaj Finserv
    Headquarters Pune, India
    Sector Finance
    Founder Jamnalal Bajaj
    Founded May 2007
    Parent Organization Bajaj Group
    Website bajajfinserv.in

    Bajaj Finserv – About
    Bajaj Finserv – Startup Story
    Bajaj Finserv – Founder And Team
    Bajaj Finserv – Business Model
    Bajaj Finserv – Revenue Model
    Bajaj Finserv – Investments
    Bajaj Finserv – Growth
    Bajaj Finserv – Competitors
    Bajaj Finserv – Future Plans
    Bajaj Finserv – FAQ’s
    Bajaj Finserv – Conclusion

    Bajaj Finserv – About

    Bajaj Finserv is a popular firm in the marketplace for loans and money building. It fulfils the dreams of the common people. It provides all types of loans such as personal, home, business loans, etc. It is also engaged in life and general insurances.

    Bajaj Finserv – Startup Story

    Bajaj Finserv Logo

    The company began in April 2007. It was the resultant of the demerger from Bajaj Auto Limited as a separate element to completely focus on the financial services business. The process got completed in February 2008. This was done not only to unlock the value of the business growth in the areas of finance, insurance, etc. but also to strengthen the core businesses. This demerger has facilitated the investors to hold separate stocks and transparent benchmarking of the companies in their respective industries. The constantly changing Indian economy has led to the creation of different customer requirements.

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    Bajaj Finserv – Founder And Team

    Jamnalal Bajaj, Founder, Bajaj Group

    Jamnalal Bajaj is the founder of the company. He is an industrialist. He is the founder of the Bajaj Group of companies. He was very close to Mahatma Gandhi. He was born in 1889, near Rajasthan in a well-to-do Marwari family. He was the third son of his parents. Later, he was adopted and got settled in Maharashtra. After adoption, he was into the family business. During that period, he gained the qualities of a skilled tradesman, bookkeeping and selling and buying of commodities. With time he improved in his task and founded the Bajaj group of industries.

    Bajaj Finserv – Business Model

    The company especially focuses on insurance, lending, asset and wealth management. Apart from this it also focuses on it’s existing customers. The company considers sustainability to be a very important aspect. Satisfying customers is the main task of the company. This results in a recommending thing. The more customers are satisfied the less the company worries about achieving new customers. It aims at continuous improvement, change and reinvention. Detailing of the loans and all kinds of facilities are accessible within their portal. Creation of trust is a kind of obsession for the company.

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    Bajaj Finserv – Revenue Model

    The company earns money by attracting a large number of customers with zero cost EMI schemes. But in reality, there’s always a thing called processing fee which works behind the entire procedure. In case of any late payment, interest can go up to 35 to 40% a year. It also provides various offers to its customers to create a large database. It is done to ensure greater sales. Tie-ups lead to a big amount of revenue income.

    Bajaj Finserv – Investments

    Bajaj Finserv has made 3 investments till date.

    Date Organization Name Transaction Name Money Raised
    December 21, 2019 Karvy Data Management Corporate Round –
    October 5, 2019 Federal Transport Private Limited Debt Financing $28,000
    August 3, 2017 MobiKwik Series D Rs 2.3 billion

    Bajaj Finserv – Growth

    There’s a continuous growth seen in the records of the company. Of the total income in September the quarter rose to INR 6,609.34 crores from INR 4,632.81 crores in 2018. Interest income grew by 37.62%. The amount increased from 4,465.61 crores to 6,145.97 crores. Commission income and fees also increased. It jumped from INR 259.36 crores to INR 628.37 crores. Revenues from the insurance business grew to INR 7,904.85 crores from INR 5,403.69 crores.

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    Bajaj Finserv – Competitors

    The top competitors of the company are IDFC FIRST Bank, Shriram City and Mahindra Finance.

    • IDFC FIRST Bank is the top rival of Bajaj Finserv. It was founded in 2015 and is headquartered in Mumbai, Maharashtra, India. It is a Public company. It works within the Diversified Financial Services industry.
    • Shriram City is also one of the top rivals of Bajaj Finserv. It was founded in 1986 and is headquartered in Chennai, Tamil Nadu, India. It competes in the Diversified Financial Services field.
    • Mahindra Finance is one among the top competitors of Bajaj Finserv. It is headquartered in Mumbai, Maharashtra, India. It works in the Diversified Financial Services field.

    Bajaj Finserv – Future Plans

    The insurance business witnessed a pickup in activities currently. The company is aiming towards improving the asset quality of the business and the earnings growth. Product innovation is also being expected to keep the insurance business healthy.

    Bajaj Finserv – FAQ’s

    How can I talk to a Bajaj Finance customer care executive?

    You can reach us on 8698010101 (call charges applicable) for your loan and EMI Network Card-related queries. If you are calling from a non-registered mobile number, please keep your 7-digit customer ID or EMI card number handy for verification.

    Is Bajaj FD safe?

    Your savings are safe with a Bajaj Finance online FD, which is accredited with the highest safety ratings of FAAA by CRISIL and MAAA by ICRA. These high ratings indicate the highest safety of deposit and timely repayments.

    How can I get a 50000 instant loan?

    Meet urgent funding requirements with an instant personal loan of 50,000 Rupees from Bajaj Finserv. Fulfill minimum eligibility criteria and complete a hassle-free application process to receive instant approval and quick disbursal of INR 50,000 loan. Avail of the advance without providing any collateral.

    How can I check my Bajaj EMI card eligibility?

    Firstly, the eligibility criteria require you to be between 21 and 60 years of age with a steady income and a good credit history. You should also have a residential address and a bank account in India. After this quick check, you can instantly sign up for the Bajaj Finserv EMI Card if you are eligible.

    Is Bajaj Finance good investment?

    Though company fixed deposits come with some risk, Bajaj Finance FDs ensure that you have nothing to worry about. They carry the highest credit ratings of FAAA by CRISIL and MAAA by ICRA. These ratings indicate that your investment is safe and that you will receive the maturity returns on time and in full.

    Bajaj Finserv – Conclusion

    Bajaj Finserv is a company that approves loans and funds in accounts within 24 hours. It is a part of Bajaj Holdings & Investments Limited. It is a financial services company. It especially focuses on insurance, lending and asset and wealth management.

  • Nubank – Controlling Money and Creating Developments

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    We all love being protected. Nowadays we do not feel safe to carry money with us in our pockets while going outside for shopping or maybe having food in the restaurants. Rather we all prefer credit or debit cards. These cards help users feel safe.

    Nubank is the largest Fintech in Latin America. It is a privately held company which deals with Financial Services. Nubank has also got an engineering office in Berlin and Mexico City and is headquartered in São Paulo, Brazil. The company provides a credit card to the consumers which can be controlled with the help of a phone 24×7. Read the Nubank success story below.

    Nubank – Company Highlights

    Company Name Nubank
    Headquarters Sao Paulo, Brazil
    Sector Finance, Financial Services, Fintech, and Payments
    Founders David Velez, Adam Edward Wible and Cristina Junqueira
    Founded May 2013
    Website nubank.com

    Nubank – About
    Nubank – Startup Story
    Nubank – Founders and Team
    Nubank – Business Model
    Nubank – Revenue Model
    Nubank – Funding and Investors
    Nubank – Growth
    Nubank – Acquistions
    Nubank – Competitors
    Nubank – Future Plans
    Nubank – FAQ

    Nubank – About

    Nubank is a platform that processes, issues, transfers and administrates payments related to post-paid credit cards. The company has launched a digital account named ‘NuConta’. It is used by more than 17 million people.

    Nubank Logo
    Nubank Logo

    Nubank – Startup Story

    In 2013, David Vélez went to a Brazilian bank branch to open an account. He had a horrifying experience there. Firstly he had to check his bag in a locker outside and then he waited and passed through a security line. There he waited for 45 minutes and finally got an opportunity to speak to someone. He felt that the man was doing him a favour by talking to him about the creation of an account. Then again David was sent to make a phone call to the bank employees.

    The procedure took a long period of four months. He knew that anywhere he would go in Latin America, he would experience the same. There half of the population has got neither credit cards nor bank accounts. So, he decided to build something modern and different aptly titled Nubank.

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    Nubank – Founders and Team

    The founders of the company are David Vélez, Edward Wible and Cristina Junqueira.

    • David Vélez is the founder and the CEO of Nubank. He was a board member at Despegar.com. He was also a partner at Sequoia Capital. He was the senior associate at General Atlantic. He began his career as an analyst at Goldman Sachs. He pursued his education from Stanford University.
    • Edward Wible is the founder and the CTO of Nubank. He is a graduate in Computer Science from Princeton University.
    • Cristina Junqueira is the co-founder of Nubank. She began her career from Boston Consulting Group. She has got a bachelor’s and a master’s degree in engineering from the University of Sao Paulo.
    Cristina Junqueira, Edward Wible and David Velez (left to right), Founders, Nubank

    Nubank – Business Model

    The company offers the customers a low interest and a no-fee credit card which can be managed with the help of Android and iOS. Users can track and control their purchases with the help of this platform.

    Nubank Website
    Nubank Website

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    Nubank – Revenue Model

    Nubank makes money with the help of the credit card the company provided to its users. Whenever a purchase takes place through the credit card, the organization pays a small percentage of money through the Mastercard network. In case a customer decides to pay the bills in instalments, the company receives interest.

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    Nubank – Funding and Investors

    Nubank has raised a total amount of $1.5 billion in funding over the 11 funding rounds.

    In Jan 2021, Nubank announced a funding round of $400m which came at a $25bn valuation on the company

    Date Transaction Name Money Raised Lead Investors
    Jan 28, 2021 Series G $400M GIC, Invesco, Whale Rock Capital Management
    June 4, 2020 Venture Round $300 million –
    July 26, 2019 Series F $400 million TCV
    October 8, 2018 Secondary Market $180 million Tencent Holdings
    March 1, 2018 Series E $150 million DST Global
    August 17, 2017 Debt Financing – Fortress Investment Group and Goldman Sachs
    December 6, 2016 Series D $80 million DST Global
    April 27, 2016 Debt Financing $56 million Goldman Sachs
    January 7, 2016 Series C $52 million Founders Fund
    June 2, 2015 Series B $30 million Tiger Global Management
    September 25, 2014 Series A $14.3 million Sequoia Capital

    No. of investors – 15

    Nubank – Growth

    Nubank has already experienced growth in the first half of 2020 because during the pandemic many consumers turned to online mode. The company saw a 48% of increased revenue growth from December 2019 onwards. During that time, the number of transactions got doubled on the platform. The customer base now stands at 35 million customers in brazil in 2021, which is more than double compared to 2019. According to the reports, Nubank receives an average of 41,000 new users a day. On plans of International Expansion the company stated that it will soon start its operation in Columbia. .

    Nubank brasil
    Number of customers of Nubank in Brazil from 2016 to 2020

    Nubank – Acquistions

    In January 2020, Nubank made its first acquisition by acquiring Plataformatec, a company that specialized in software engineering and agile methodologies.

    In September 2020, Nubank acquired Easyinvest, an investment broker also from Brazil for an undisclosed amount.

    Nubank – Competitors

    The top competitors of the company are Atom Bank, Monzo Bank, N26 and Monese.

    • Atom Bank is a privately held digital financial company founded in 2014. It works in the financial services sector.
    • Monzo Bank is a privately held digital company founded in 2015. It operates in the financial services technology field.
    • N26 is a privately held company founded in 2013. It competes in the financial services sector.
    • Monese is also a privately held company founded in 2013. It works in the financial services field.

    Nubank – Future Plans

    In 2019, Nubank started its international expansion. It began its operation with Mexico. Then, it had 8.5 million customers and it claimed itself to be the biggest online bank outside Asia. The Mexico office started with 20 staff members and had plans to quadruple within 2020.

    The company has been studying the Mexican financial system for various years, and estimated that around 36 million Mexicans do not have a bank account. Therefore, Nubank came with the decision to extend its empire but there are no plans to widen into other markets such as Europe.

    Nubank – FAQ

    What is the revenue of Nubank in 2020?

    The revenue generated by fintech company Nubank in Brazil during the first six months of 2020 amounted to 2,079.22 million Brazilian reals.

    How does Nubank make money?

    Whenever a purchase takes place through the credit card, the organization pays a small percentage of money through the Mastercard network.

    Is Nubank a bank?

    Nubank is one of the largest digital bank in the world, with a customer base of more than 35 million.

    How many customers does Nubank have?

    Nubank has a customer base of over 35 million.

    Where is Nubank located?

    Nubank is a Latin American neobank headquartered in São Paulo, Brazil.

    What is the valuation of Nubank?

    The Valuation of Nubank is $25 billion as of 2020.

  • Goldman Sachs – Good To Have Money, Good To Invest Money

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    Goldman Sachs is an American multinational investment bank. It has got a net worth as of December 17, 2020, as $83.41B. It offers services in investment management, securities, asset management, and securities underwriting. Marcus Goldman and Samuel Sachs founded Goldman Sachs in 1869.

    Read about the Goldman Sachs success story, Founders, Competitors, Business Model, Funding, and Revenue Model below.

    Goldman Sachs – Company Highlights

    Company Name The Goldman Sachs Group, Inc.
    Headquarters New York, U.S
    Sector Financial Services
    Founders Marcus Goldman & Samuel Sachs
    Founded In 1869
    Revenue $47.4 Billion (2022)
    Website Goldmansachs.com

    Goldman Sachs – About
    Goldman Sachs – Industry
    Goldman Sachs – Founders and Team
    Goldman Sachs – Startup Story
    Goldman Sachs – Mission and Vision
    Goldman Sachs – Name, Tagline, and Logo
    Goldman Sachs – Solutions
    Goldman Sachs – Business Model
    Goldman Sachs – Revenue Model
    Goldman Sachs – Employees
    Goldman Sachs – Marketing Strategy
    Goldman Sachs – Challenges Faced
    Goldman Sachs – Mergers and Acquisitions
    Goldman Sachs – Investments
    Goldman Sachs – Philanthropic Activities
    Goldman Sachs – Awards and Achievements
    Goldman Sachs – Competitors
    Goldman Sachs – Growth
    Goldman Sachs – Future Plans

    Goldman Sachs – About

    Goldman Sachs is a leading investment firm. It maintains offices and all major financial centers around the world. Goldman Sachs brings capital, people, shareholders, clients, and ideas together. They actually serve all. Serve the community to grow more. Advice about buying and selling businesses is always given. Starting from raising capital to managing risks takes place here.

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    Goldman Sachs – Industry

    The financial services industry is considered to be one of the most powerful industries in the world as it contains a wide range of businesses that manage money.

    As per the latest reports, the market size of global financial services grew from $25848.74 billion in 2022 to $28115.02 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%.

    Goldman Sachs – Founders and Team

    Marcus Goldman and Samuel Sachs are the Founders of Goldman Sachs.

    Goldman Sachs Founders
    Marcus Goldman and Samuel Sachs – Founders, Goldman Sachs
    • Marcus Goldman was a German banker, financier, and businessman. He was born in Trappstadt, Bavaria. He immigrated to the United States in 1848. He was the founder of the company. His company is now known by all and is one of the world’s largest investment banks.
    • Samuel Sachs was an American investment banker. He was born in Maryland, United States in 1851. He was the business partner of Marcus Goldman. But actually, Marcus Goldman was his father-in-law. He joined the business. He died in 1935.
    • David M. Solomon is an investment banker. Since the year 2018, he is the CEO of Goldman Sachs. He is 58 years old as of 2020. He has a net worth of around $100 Million
    David M Solomon - CEO, Goldman Sachs
    CEO, Goldman Sachs

    Goldman Sachs – Startup Story

    As you have read before, Samuel Sachs was the business partner as well as the son-in-law of Marcus Goldman. Before, accepting the offer. Samuel Sachs used to work as a bookkeeper and ran minor businesses. After his joining, Marcus named the company M. Goldman, Sachs & Co. in 1888. An updated listing took place in 1883. Samuel established the company’s reputation day by day. He stood in the banking community. By 1890, Goldman Sachs became one of the largest dealers of commercial paper in New York. Later, Samuel retired and passed away in New York.

    Goldman Sachs – Mission and Vision

    The mission of Goldman Sachs reads as, “We aspire to be the world’s most exceptional financial institution, united by our shared values of client service, excellence, partnership, and integrity.”

    The company has four core values, which are based on:

    • Client Service
    • Excellence
    • Partnership
    • Integrity

    The aim of the firm has always been towards serving its clients well. Besides this, the goal of the company is to ensure that they deliver returns to its shareholders.

    In the tagline, the goal of Goldman Sachs speaks for itself. Hence, its tagline is “Our people are our greatest asset.”

    Goldman Sachs Logo

    Goldman Sachs – Solutions

    Goldman Sachs is known for building and integrating developer-centric, cloud-based financial products and services into the ecosystems of its clients to enable them to provide better service to their own clients and customers.

    As we are aware that the company is mostly into offering services related to finance, it offers 3 major platform solutions for its clients, these are:

    Transaction Banking

    This platform designed by the company is to assist clients in creating a future treasury and enabling software partners to improve their services. It is a straightforward and secure transaction banking platform with 24/7 accessibility so that its clients can easily use it.

    Merchant Point of Sale Lending

    Merchant point of sale lending is a growing network of retailers that are offered clear and uncomplicated solutions to assist them in expanding their operations and better serving their clientele.

    Embedded Consumer Finance

    Through its API-first platform, a SaaS technology, the company enables businesses to directly offer its highly regarded consumer financial products within their online experiences. This doesn’t end here. The company also offers tools that will help enable developers to drive long-term growth for their businesses and derive smart decisions.

    Why Goldman Sachs Went From Investing For The Rich To Targeting Everyone

    Goldman Sachs – Business Model

    The company deals with a range of financial services. It has got a diversified client base which includes financial institutions, governments, and corporations. The company has got 4 operable segments. These are Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

    • Investment Banking is advising organizations on capital raising strategies. This feature helps to raise capital and grow businesses.
    • Institutional Client Services are actually financial services with both financial and non-financial firms. The firm makes clear client transactions. For future exchanges, security lending, prime brokerage, etc.
    • Investing & Lending are something very common, which everyone already knows. Still investing is putting money into property, shares, and schemes. The firm makes investments both directly and indirectly. And lending is allowing someone or something to use an amount of money. Money can be paid back later.
    • The firm also offers wealth advisory services, portfolio management, and financial counseling.

    Basically, the company’s business is to help people, companies, shareholders, and clients on the following points:

    • It advises on what to buy or sell depending on the marketing conditions.
    • It helps local or national governments to finance their operations.
    • It transacts for its clients in all financial marketing conditions such as bonds, equities, currencies, etc.
    • It helps or supports markets to remain effective and liquid for investors and businesses to meet up with their needs.
    • It manages to safeguard and improve the value of assets for both private individuals and institutions like mutual funds, pension funds, and foundations.
    • It also invests in capital to help grow its clients’ capital.
    • It also aggressively helps to innovate and come up with new ideas, and new products to grow further.

    In addition, the company offers the following solutions for corporates and institutions:

    • Asset Management
    • FICC and Equities
    • Comprehensive Solutions for Nonprofits
    • Financial Cloud
    • Investment Banking
    • Global Investment Research
    • Ayco Personal Financial Management
    • Marquee
    • Liquidity Investing

    On the other hand, for individuals, some of the services provided by Goldman Sachs are:

    • Marcus by Goldman Sachs
    • Private Wealth Management
    • Global Investment Research
    • Ayco Personal Financial Management
    • Personal Financial Management

    Apart from all these, Goldman Sachs is a key trader in the market for Treasury securities issued by the United States. It offers custodian bank and clearing services.

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    Goldman Sachs – Revenue Model

    • Investing activities and the origination of loans are to provide financing to clients.
    • After clearing client transactions on major stock, commissions, and fees are executed.
    • Financial advisory fees and underwriting fees are charged by the clients.

    In 2022, the company generated a revenue of $47.4 billion. As of September 26, 2021, the firm has a market capitalization of $134.8 billion.

    Goldman Sachs – Employees

    As of 2021, the number of employees the company reported having was 48,500. However, as a result of the earnings report from July of 2022, which showed significantly decreased earnings, Goldman Sachs announced in September 2022 that hundreds of employees across the company were laid off.

    Goldman Sachs – Marketing Strategy

    The company invests around 90% of its marketing budget in digital marketing schemes. The main focus is on the creation of content and social media. With the help of social media platforms like LinkedIn, YouTube, Facebook, and Twitter.

    The company enables itself to reach its customers. Innovation and expansion of the market are increasing day by day. Social enterprises are also contributing to the UK economy and community. After a lot of research, the company designed a 10,000 small business program. This was created to bring high-quality business support to the leaders for growing their small businesses across the country.

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    Goldman Sachs – Challenges Faced

    One of the most challenging parts for Goldman Sachs was during the aftermath of the financial crisis that happened between 2007-2008. The firm came under fire for allegedly deceiving its investors and making money through the collapse of the mortgage market. The situation was so bad that there were investigations into this matter. It was conducted by the US Congress and the US Department of Justice, and the US Securities and Exchange Commission filed a lawsuit. As a result, the company agreed to pay a $550 million settlement.

    While this was one of the many challenges faced by the company, there was another major controversy in 2021, wherein a group of first-year bankers complained to managers that they were working 100 hours a week with only 5 hours of sleep at night. This was highlighted and the company faced scrutiny. However, the firm announced a 15 days vacation every year for its employees to maintain their work-life balance.

    Goldman Sachs – Mergers and Acquisitions

    The company has made 28 acquisitions till now. Some of the details are:

    Date Aquiree Name Amount
    September 15, 2021 GreenSky $2.2 Billion
    August 19, 2021 NN Investment Partners 1.6 Billion
    December 8, 2020 Goldman Sachs Gao Hua Securities –
    October 2, 2020 General Motors – Credit Card Business $2.5 Billion
    May 14, 2020 Folio Institutional –
    June 3, 2019 Capital Vision Services $2.7 Billion
    May 16, 2019 United Capital $750 Million
    November 9, 2018 ClearFactr –
    July 11, 2018 Boyd Corporation $3 Billion
    June 14, 2018 Slickdeals –

    Goldman Sachs – Investments

    It is recorded that Goldman Sachs has made 956 investments, out of which 376 are lead investments. Some of the latest investments are:

    Date Name Of The Organization Amount Raised
    February 2, 2023 Syngene $11.9 Billion
    January 25, 2023 Fever $110 Million
    January 25, 2023 Forward Networks $50 Million
    January 12, 2023 LePure Biotech –
    January 11, 2023 Xpansiv $125 Million
    January 3, 2023 InsuranceDekho $110 Million
    December 15, 2022 Mews $185 Million
    December 13, 2022 Vestiaire Collective $75 Million
    December 8, 2022 Younited $60 Million
    November 17, 2022 Bikaji Foods $566.4 Million
    June 25, 2020 Capital Markets Gateway $25 million
    July 14, 2020 Permira –
    July 14, 2020 Nasuni $25 billion
    July 15, 2020 Bond Financial Technologies $32 million
    July 23, 2020 Missfresh E-Commerce $495 million

    In addition to this, the company has made 46 diversity investments. These are:

    Date Organization Name Amount Invested
    February 15, 2022 Homebound –
    January 11, 2022 Wonderschool $25 Million
    November 27, 2021 H2O.ai $100 Million
    March 4, 2021 Flywire $60 Million
    February 24, 2021 Madison Reed $52 Million
    October 6, 2020 BlocPower $11.8 Million
    September 17, 2020 Ellucian $1.6 Billion
    July 14, 2020 Nasuni $25 Million
    February 13, 2020 Flywire $120 Million
    January 15, 2020 Moneythink $10K

    Goldman Sachs – Philanthropic Activities

    Under Goldman Sachs Foundation, the company has contributed about $1.8 billion towards philanthropic activities. With a maximum employee donation match of $20,000, the business provides a donor-advised fund (DAF) called Goldman Sachs Gives that makes donations to nonprofits.

    Even during the pandemic when companies struggled to operate, the company made progress in reuniting its teams across the world and in supporting their employees and their families.

    In addition, the company advised the governments of several nations on how to raise more than $15 billion for vulnerable populations, contributing $30 million to a COVID-19 Relief Fund and $775 million to a Small Business Stimulus Package during this time.

    Goldman Sachs – Awards and Achievements

    The company has won many awards and achievements, some of which are listed below:

    • The Wall Street Journal – 250 Best Managed Companies of 2022 (December 2022) Ranked 105
    • Euromoney – Market Leaders Awards (November 2022) Ranked 1 in Chile and Ranked 2 in Brazil
    • Goldman Sachs has been recognized for the International Financing Review (IFR) Awards – Bank of the Year
    • Achieved the Fintech Futures Banking Tech Awards – Best Use of Cloud
    • CNBC Select – 5 Best Personal Loans of December 2022 – Marcus by Goldman Sachs named Best for Debt Consolidation
    • Received the Interbrand – Best Global Brands by ranking 49
    • The Banker – Investment Banking Awards (October 2022) Investment Bank of the Year
    • FinTech Futures – Banking Tech Awards USA (May 2022) – Best Digital Initiative – Marcus by Goldman Sachs products and app
    • Mergers & Acquisitions – Middle-Market Deals of the Year (May 2022) – Industrials Deal of the Year
    • Ranked No. 19 in the Fortune – Modern Board 25 (April 2022)

    Goldman Sachs – Competitors

    The top competitors of Goldman Sachs are:

    1. Morgan Stanley
    2. JP Morgan Chase
    3. Canadian Imperial Bank of Commerce (CIBC)
    4. UBS Group
    5. Bank of New York Mellon
    6. Wells Fargo
    7. Bank of America
    8. Credit Suisse
    9. Merrill Lynch & Co Inc.
    10. Macquarie Group

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    Goldman Sachs – Growth

    The company especially focuses on investments and technology-driven companies. The Merchant Banking Division has invested more than $5 billion in strategic capital. For entrepreneurs and management to execute long-termed growth plans. This process is, going on since 1994. They usually tie up with strong management teams. This formula helps the company to grow more. Giving value to customers, shareholders, and partners is the key to success. The target of the team is investments ranging between $20 – 250+ million in companies. A proven proper management team is also very essential to walk toward growth.

    Goldman Sachs – Future Plans

    While the company remains one of the leading financial and investment banking companies, it is reported that the company is soon going to change its business strategy. The company plans to expand its transaction banking and wealth management operations. Given the economic crisis going on, the company is looking for ways to change its overall business plan soon.

    FAQs

    When was Goldman Sachs founded?

    Goldman Sachs was founded in 1869.

    Who are the founders of Goldman Sachs?

    Marcus Goldman and Samuel Sachs are the Founders of Goldman Sachs.

    What services does Goldman Sachs provide?

    Goldman Sachs provides a range of financial services to individuals, corporations, and governments. Some of the services offered by Goldman Sachs include:

    • Investment Banking
    • Securities
    • Asset Management
    • Consumer and Commercial Banking
    • Investment Advisory
    • Risk Management
    • Securities Lending

  • JPMorgan – One Of The Largest Financial Holding Company

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    JPMorgan(John Pierpont Morgan) Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City. JPMorgan Chase is ranked by S&P Global as the largest bank in the United States and the seventh largest bank in the world by total assets, with total assets of US$3.213 trillion.

    It is also the world’s most valuable bank by market capitalization. As a “Bulge Bracket” bank, it is a major provider of various investment banking and financial services. It is one of America’s Big Four banks, along with Bank of America, Citigroup, and Wells Fargo.

    JPMorgan – Company Highlights

    Startup Name JPMorgan Chase & Co.
    Headquarters New York City, New York, U.S.
    Industry Financial services
    Founded December 1, 2000
    Founder Balthazar P. Melick(Chemical Bank), John Pierpont Morgan(J.P. Morgan & Co.), Aaron Burr(The Manhattan Company) and John Thompson(Chase National Bank)
    CEO Jamie Dimon
    Areas Served Worldwide
    Website www.jpmorganchase.com

    JPMorgan – About and How it Works?
    JPMorgan – Logo and its Meaning
    JPMorgan – Founder and History
    JPMorgan – Mission
    JPMorgan – Business Model
    JPMorgan – Revenue and Growth
    JPMorgan – Investments
    JPMorgan – Acquisitions
    JPMorgan – Competitors
    JPMorgan – Challenges Faced
    JPMorgan – Future Plans
    JPMorgan – FAQs

    JPMorgan – About and How it Works?

    JPMorgan Chase & Co. is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

    It operates through the following segments: Consumer and Community Banking, Corporate and Investment Bank, Commercial Banking and Asset and Wealth Management.

    The Consumer and Community Banking segment serves consumers and businesses through personal service at bank branches and through automated teller machine, online, mobile, and telephone banking. The Corporate and Investment Bank segment offers a suite of investment banking, market-making, prime brokerage, and treasury and securities products and services to a global client base of corporations, investors, financial institutions, government and municipal entities.

    The Commercial Banking segment delivers services to the U.S. and its multinational clients, including corporations, municipalities, financial institutions, and non-profit entities. It also provides financing to real estate investors and owners as well as financial solutions, including lending, treasury services, investment banking, and asset management. The Asset and Wealth Management segment provides asset and wealth management services.

    JPMorgan – Logo and its Meaning

    Logo of JPMorgan Chase & Co.
    Logo of JPMorgan Chase & Co.

    The geometry of the emblem and its colours stood for confidence, loyalty, professionalism, and unity, and showed the bank as a strong financial organization with its customers as the main value.

    JPMorgan – Founder and History

    JPMorgan Chase, in its current form, has its roots in more than 1,200 predecessor banks, including major heritage firms JP Morgan, Chase Manhattan, Chemical Bank, Manufacturers Hanover, Bank One, First Chicago, and National Bank of Detroit. These entities all played a significant role in the growth of the US and global economies. The earliest of the Company’s predecessor companies was The Bank of the Manhattan Company, which was established in 1799 by Aaron Burr as only the second commercial bank in the US.

    JPMorgan Chase is built upon numerous mergers and acquisitions. Arguably, the most significant of these was the 2000 merger between JP Morgan and Company and The Chase Manhattan Corporation, which effectively combined four of the largest and oldest banking institutions in New York City – JP Morgan, Chase Bank, Chemical Bank, and Manufacturers Hanover – to form JP Morgan Chase and Company.

    JPMorgan is now one of the largest banking institutions in the world. It is ranked 23rd in the Fortune 500 list and 5th in the Forbes 2000 list. The Company trades its shares on the New York Stock Exchange and has a current market capitalization of $243.59 billion.

    JPMorgan – Mission

    JP Morgan’s mission statement says, “JPMorgan provides a range of banking and financial services to consumer, corporations and public institutions, with the aim of enhancing their financial wellbeing and helping to effectively manage their finances.”

    JPMorgan – Business Model

    JPMorgan Chase organizes its activities into core major reportable business segments

    • Consumer and Community Banking, which provides consumers and businesses with consumer and community banking services – such as deposit, lending and investment products – through personal service at bank branches and through automated teller machines, online, mobile and telephone banking;
    • Corporate and Investment Bank, which provides of banking and markets and investor services, including a suite of investment banking, market-making, prime brokerage, and treasury and securities products and services, to corporations and institutions worldwide;
    • Commercial Banking, which provides delivers industry knowledge, expertise, and advisory services to commercial clients, as well as financing to real estate investors and owners; and
    • Asset Management, which provides investment advisory and wealth management services.

    JPMorgan Chase also operates a Corporate segment, which comprises the activities of corporate staff units.

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    JPMorgan – Revenue and Growth

    JPMorgan Chase generates revenue through the provision of various banking and financial services and products. Revenue is derived principally through fees and commissions imposed upon customers in relation to the Company’s services, including advisory, investment banking, management, and underwriting fees.

    The Company’s largest portion of revenue was derived from asset management, administration, and commissions, which amounted to $15.51 billion for the year.

    JPMorgan Chase revenue for the quarter ending September 30, 2020 was $30.834B, a 14.79% decline year-over-year.

    Year Amount Percentage Change from Last Year
    2019 $142.422B +9.5%
    2018 $130.07B +13.52%
    2017 $114.579B 7.7%

    JPMorgan – Investments

    JP Morgan Chase has made 144 investments. Their most recent investment was on Nov 9, 2020, when NovoCure raised $150M.

    Date Organization Name Round Amount
    Nov 9, 2020 NovoCure Post IPO Debt $150M
    Jul 28, 2020 Pharmapacks Private Equity Round $150M
    Jul 18, 2020 Contemporary Amperex Technology Post IPO Equity CN¥19.7B
    Jun 25, 2020 Capital Markets Gateway Series B $25M
    Jun 22, 2020 Cedar Debt Financing $25M
    Jun 4, 2020 Cloud9 Technologies Series B $17.5M
    Mar 23, 2020 iCapital Network Venture Round $146M
    Mar 3, 2020 The Joint Post IPO Debt $7.5M
    Feb 3, 2020 Launch NY Grant $300K
    Jan 17, 2020 Arcesium Corporate Boy –

    JPMorgan – Acquisitions

    JP Morgan Chase has acquired 10 organizations. Their most recent acquisition was InstaMed on May 17, 2019.

    Acquiree Name Date Amount About Acquiree
    InstaMed May 17, 2019 – InstaMed simplifies healthcare payments for providers, payers, and consumers
    WePay Oct 17, 2017 $400M WePay is the payments partner to the platform economy
    J.P. Morgan Cazenove Nov 19, 2009 – J.P. Morgan Cazenove is a leading investment bank focused on mergers & acquisitions, debt and equity placements and equity research
    Washington Mutual Sep 26, 2008 – Washington Mutual is a savings bank holding company providing consumer banking and financial services
    Bear Stearns Mar 17, 2008 – Bear Stearns is an investment banking, securities trading and brokerage firm
    Xspand Mar 1, 2008 – Xspand is a provider of revenue solutions that focuses on purchasing, servicing and securitizing municipal tax liens
    Collegiate Funding Services Dec 15, 2005 – Collegiate Funding is a vertically integrated education finance company that markets, originates, finances and services education loans
    Neovest Holdings Jun 23, 2005 – Neovest Holdings an independently operated technology company providing a comprehensive suite of global broker-neutral financial services
    Bank One Jan 15, 2004 $58B Bank One is a Chicago-based multibank holding company providing many banking and financial services
    Hambrecht & Quist Sep 28, 1999 $1.4B Hambrecht & Quist is an investment bank that focuses on the technology and internet sectors

    JPMorgan – Competitors

    The top 10 competitors in JPMorgan Chase’s competitive set are Citi, Goldman Sachs, Bank of America, Morgan Stanley, Capital One, Credit Suisse, Fidelity, Wells Fargo, American Express and HSBC.

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    JPMorgan – Challenges Faced

    “We do not worry about the stock price in the short run,” Dimon (CEO) said. “If you continue to build a great company, the stock price will take care of itself.”

    • Economic risks on the horizon – The excessive disruption in the financial markets at the end of 2018 was “a harbinger of things to come,” as investor sentiment remained precarious.
    • Because of divisive politics, America was unable to keep pace in a new world – The federal government was becoming less relevant to what is going on in people’s lives, Dimon said. As a result, people lost faith in their politicians’ ability to deliver on their promises and meet societal needs.
    • American leadership and engagement on the world stage is “indispensable” – Dimon said one of the biggest uncertainties in the world is what role America is currently playing. He said that while there are many problems with international organizations, such as the North Atlantic Treaty Organization (NATO), the World Trade Organization (WTO) and the United Nations (UN), the world is better off with these institutions, and the U.S. should engage and exercise its power and influence “cautiously and judiciously.
    • Regulation isn’t all bad, but too much of it isn’t good – Dimon said current “excessive” regulation has reduced growth and business formation for the company, without making the economy safer or better.

    “The ease of starting a business in the United States has worsened, and both small business formation and employment growth have dropped to the lowest rates in 30 years,” Dimon wrote.

    • JPMorgan Chase is “all in” on the cloud and AI, but not on stock buybacks – Dimon acknowledged that he was “partially responsible” for the bank being slow to adopt the cloud, because his early thinking was that it was just another term for outsourcing. He also said the power of artificial intelligence and machine learning is “real,” and are “rapidly being deployed” across virtually every aspect of the bank’s business. Since that makes some employees redundant, the bank is looking to retrain and deploy those employees for other roles inside and outside the company.

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    JPMorgan – Future Plans

    • 17,000 Job Cuts- Even the country’s largest bank needs to cut back on employees. Executives said JPMorgan would eliminate about 17,000 positions over the next two years, including about 4,000 through attrition this year in its consumer bank.
    • 13,000 to 15,000 Mortgage Cuts- Most of JPMorgan Chase’s job cuts will come through lay-offs and attrition in its mortgage operations over the next two years, as the industry moves past the worst of the foreclosure crisis and has less need for servicing employees.
    • 100 New Branches- Even as it cuts some branches, JPMorgan Chase is expanding. The bank plans to add about 100 branches to its total over each of the next two years.
    • 500,000 ‘Digital’ Customers- A growing number of JPMorgan Chase customers are opting for mobile and online technology over branch visits. About 500,000 bank customers per month are going digital, executives said.
    • New Partnership- JPMorgan used the day to announce a new partnership with Visa. Executives said the deal will allow the bank to negotiate directly with merchants over how they process Chase credit and debit cards.

    JPMorgan – FAQs

    What does JP Morgan do?

    JPMorgan Chase & Co. is a global financial service that provides services including consumer banking, investment banking, commercial banking, and asset management for individuals, corporations, institutions, and governments globally.

    Is JP Morgan and JP Morgan Chase the same?

    JPMorgan Chase & Co. is the parent holding company of Chase(Commerical Bank) and JPMorgan(Investment Bank).

    Is JP Morgan the largest bank?

    JPMorgan Chase & co. is America’s one of the largest bank.

    What is JP Morgan’s full name?

    John Pierpont Morgan is JPMorgan’s full name.

    How does JPMorgan make money?

    The company operates through the following segments: Consumer and Community Banking, Corporate and Investment Bank, Commercial Banking and Asset and Wealth Management.