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Digital bank creates retail opportunities

April 20, 2023

Digital bank creates retail opportunities
JPMorgan Chase, the largest US bank and the world’s most valuable lender, has been a gainer of the flight to safety following the banking crisis. In Asia, the bank’s strategy is to capture cross-border opportunities. In an interview with TOI, CEO (Asia-Pacific) Filippo Gori speaks of how India has grown in importance.

India has moved up in the rankings over the last few years, and it is among the top three in the region. India is the beneficiary of certain macro trends, which would make the country a bigger revenue pool for us. We try to grow faster than the GDP by increasing our share of the business. For instance, payments are one business that is growing enormously. We think that we are on the verge of a potential acceleration given some of these macro trends China plus one, growth of services sector and growth in payment business.

India has grown in importance enormously over the last decade. We have grown our presence with around 50,000 people in three centres and we will continue to invest. India has a pool of talented people and is a provider to high-quality jobs.

The pandemic has accelerated the idea that tech allows us to operate differently from how we used to think about it. From originally being primarily support office, Indian companies are now providing services & innovation global through tech, design algorithms, legal & risk departments, and finance departments.

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