NEW YORK--(BUSINESS WIRE)--MACH Alliance, a not-for-profit industry body dedicated to advocating for open, best-of-breed technology ecosystems, today announces that one of the world’s largest financial institutions, J.P. Morgan, is joining the Alliance. J.P. Morgan Payments will help to raise thought leadership and educate companies on the role of composable technology in financial services to deliver more innovative digital experiences to both their clients and end users.
The finance industry must continually adapt to technological and market disruptions, modernizing the banking experience to meet the needs of digital-first consumers. According to MACH Alliance’s “MACH Global Research 2024” report, three quarters of global IT decision makers feel it is more urgent to innovate in 2024 than in the past five years, and 87% of IT leaders in the financial services sector have increased their investment in MACH in the last 12 months.
J.P. Morgan, a leading financial services firm, is at the forefront of innovation. Its J.P. Morgan Payments arm processes payments on a high-traffic, global scale, processing nearly $10 trillion in payments daily across 160 countries and 120 currencies, and spent the last several years modernizing its tech stack around MACH principles.
Specifically aiming to enhance its commerce capabilities for online payments, in-store and omnichannel payments, fraud protection services, and more, J.P. Morgan’s technological approach demonstrates a commitment to MACH principles by:
- Deploying API-first connectivity for automated business processes.
- Building a cloud-native architecture for more security.
- Leveraging component-based microservices to speed up implementation of commerce capabilities.
- Driving a digitally enabled experience to simplify back-office functions.
“One of the more cutting-edge companies in financial services, we are thrilled to have J.P. Morgan join the MACH Alliance to share its knowledge and advocate for more modern digital experiences,” said Casper Rasmussen, president of the MACH Alliance and group SVP of technology at Valtech. “The rate of adoption of MACH in the U.S. and globally is rising. The firm is well positioned to support customers that adopt composability, such as retailers that need reliable commerce and payment tools.”
“At J.P. Morgan Payments, we continue to deliver new solutions and enhance our capabilities as we build a modern payments business globally,” said Kate Walton, chief commercial officer, merchant payments at J.P. Morgan Payments. “We have a rich network of relationships with organizations across the commerce technology ecosystem, including partners, clients, and service providers. The movement toward MACH is an exciting transformation and we look forward to helping our clients accelerate innovation to better deliver more seamless and secure experiences for their end customers in a rapidly evolving landscape.
J.P. Morgan joins MACH Alliance as a Supporter member, a category for leading organizations to share their unique thought leadership and innovations within composability, and actively contribute across MACH Alliance activities, conferences, and the wider member community.
The next event for companies to learn more about the advantages of composability is MACH THREE, June 17-18, New York City. Register for this free industry event to hear from peers discussing MACH and composable trends, and learn from leading brands who have future-proofed their digital strategy with MACH approaches.
About MACH Alliance
The MACH Alliance is a [501(c)(6)] non-profit organization, governed by an independent board and does not endorse specific vendors, members or otherwise. The Alliance was formed in June 2020 to help enterprise organizations navigate the complex modern technology landscape. It aims to guide and show the business advantage of open tech ecosystems that are Microservices based, API-first, Cloud-native SaaS and Headless. All MACH Alliance members meet certification principles that are published on the website.
The MACH Alliance welcomes technology companies and individual industry experts who share the same vision for the future. Learn more at machalliance.org, read here about MACH certification and follow us on Twitter, LinkedIn and Instagram.
