Monday, October 22, 2018

JPMorgan Chase is Planning to Launch a New Fintech Campus in Silicon Valley
Press Release
Shareholder Letter (2017)

JPMorgan Chase announced that it’s looking to open a 1,000-person office in Palo Alto.

According to the company’s latest shareholder letter, JPMorgan employs “nearly 50,000
people in technology.”

WePay, a payment service provider acquired by JPMorgan in late 2017, will also be making the move to the new campus “as part of the company’s aggressive growth plans.”

Development of the new location is expected to begin early next year. The new campus looks to open in 2020.

The SEC Announces the Launch of its Strategic Hub for Innovation and Financial Technology
Press Release

The U.S. Securities and Exchange Commission announced that it’s launching FinHub, a public resource which includes the coverage of blockchain technology, cryptocurrency, and artificial intelligence.

The new portal will be available to the public and will cover innovations and developments in the space. In addition, FinHub looks to provide automated investment advice and digital marketplace financing.

According to a press release, FinHub “replaces and builds on the work of several internal working groups at the SEC that have focused on similar issues.”

Microsoft Launches an Expense Tracking App
iTunes Page

Microsoft is launching Spend, this is according to a recent addition to the app store, which was first spotted by TechCrunch.

Spend looks to track and streamline “business expenses for reimbursement or taxes”. The new app was created by MileIQ, which was a company that Microsoft acquired in 2015.

According to TechCrunch, the early version of Spend does not look to compete directly with established expense trackers such as SAP’s Concur or Expensify.