Boston, MA 05/30/2014 (wallstreetpr) – The leading financial institution JPMorgan Chase & Co. (NYSE:JPM) is known for excellent auditing, accounting, investment management, banking, and corporate banking services in all over the world. Recently a news about JPM attracted everyone’s attention.
The details of the collaboration:
The Center for Financial Services Innovation (CFSI) and JPMorgan Chase & Co. (NYSE:JPM) entered into an agreement recently. According to the reports, the collaborative step was taken by both the organizations to establish a Financial Solutions Lab. It is one of the biggest initiatives in the history of both the companies. The main objective of $30 million worth investment made by JPM is to establish financial capabilities.
What is Financial Solutions Lab:
Financial Solutions Lab’s prime objective in a span of over five years will be to provide a unique platform to all the talented technology experts, social entrepreneurs, and behavioral economists to work together for the sole objective of financial capability. You can notice that FSL’s focus is on establishing social diverseness in the work culture, and the main reason behind the initiative is but to improve technology-enabled strategies, development of innovative ideas and finding various sources to fulfill the financial needs of all the consumers in an innovative way.
Financial Solutions Lab will put its emphasis on bringing together the most intelligent and brightest minds whose main objective will be to find new and innovative ways to motivate consumers for saving, building assets, and improving credibility.
Financial Solutions Lab will organize a series of competitions over the course of five years for all the social entrepreneurs to check their efficiency in finding innovative solutions for the development of such financial products which can improve financial health of the consumers.
Those who will have best ideas among all the participants will be supported by the FSL in taking their ideas on the next level and turning them into reality. Financial, technical and other possible support will be provided to them by Financial Solution Lab.
