H4 announced that its documentation technology is being used by J.P. Morgan’s Global Custody business for client contract onboarding, reuse of data contained in documents and building a digital library. The teams have piloted the new documentation platform with a view to rolling out across J.P. Morgan’s Securities Services business in the coming months.
Joe Seifert, CEO & co-founder of H4 said in a statement: “Many fintech CEOs I speak to are frustrated by the lack of client understanding and urgency around tech adoption despite the rhetoric. It requires business leaders to ‘get it’, make bold choices and lead the change…(the collaboration) potentially creates an ecosystem for J.P. Morgan and its clients to negotiate and alter contracts real-time in a controlled environment.”
H4 has also been used by the J.P. Morgan team to assist with the capture of critical data elements from their historical agreements allowing ease of the business line review and the ability to drive analytical reporting at the client and business level. In May 2020, J.P. Morgan was part of a consortium to invest in H4. Before this, H4 came through J.P. Morgan’s In-Residence Programme which incubates emerging technology companies to develop production-ready solutions solving for critical wholesale banking problems.