JPMorgan Chase is deploying a new, cloud-based core system for its retail bank using software developed by Thought Machine. The companies declined to disclose how much JPMorgan Chase will pay for the upgrade and how long the project will take. The move was made to innovate quickly to meet customers' ever-changing needs, to run many consumer products on a single platform, and more. Thought Machine's clients include large international banks such as Standard Chartered, which uses the company's Vault software for its digital bank Mox in Hong Kong, and Swedish financial services group SEB, which uses it to run UNQUO, a banking app for entrepreneurs and business owners. 

Re-disseminated from Thought Machine