Tag: jp morgan

JP Morgan Looking Forward to Testing ‘Immersive Training Applications’ of Metaverse

The world of banking is gearing up to explore the use cases of up-and-coming technologies like Artificial Intelligence (AI) and the metaverse to benefit their present working conditions. JP Morgan, for instance, is excitedly looking to try out immersive training applications for new bank staff members, all through the metaverse technology. The idea was recently shared by Blair MacIntyre who serves as the Managing Director (MD) and the global head of immersive technology at the US-headquartered bank.

Speaking on MIT’s Business Lab podcast, MacIntyre said that newly joining staff members could benefit from stepping into an immersive virtual ecosystem rather than having them watch videos or go through presentations, EfinancialCareers said in a report.

Along with JP Morgan, Citi Bank is also running a virtual reality internship experience. This lets the trainers provide feedback in real time. As part of his vision of ushering-in an immersive era of hiring, MacIntyre wishes to bring together the technologies of Augmented Reality (AR) and Virtual Reality (VR) into the day-to-day office working like gathering for meetings. To make that occur however, MacIntyre believes that these technologies first need to see widespread adoption and seamless connection.

JP Morgan, as for now, has established its name as one the first Wall Street banks to keep a friendly approach towards the Web3 sector.

Back in February last year, JP Morgan became the first major global bank to establish its virtual presence in the Decentraland metaverse.

Later in September 2022, JP Morgan had begun scouting for roles that would bring-in the metaverse and Web3 technologies into the bank’s working.

As per a research report by Markets and Markets, the global metaverse market is expected to grow from $83.9 billion (roughly Rs. 6,99,616 crore) in 2023 to $1,303.4 billion (roughly Rs. 108,65,313 crore) by 2030 at a Compound Annual Growth Rate (CAGR) of 48 percent during the forecast period.

JP Morgan is not the only international bank that is testing the waters of virtual reality and metaverse.

HSBC, Mastercard, Standard Chartered Bank, and American Express are among lenders that are experimenting with Web3 technologies.

Affiliate links may be automatically generated – see our ethics statement for details.

Check out our Latest News and Follow us at Facebook

Original Source

Jio’s Unlimited 5G Plans Put Airtel on Back Foot in India, Delay Profits: JP Morgan

The launch of cheaper postpaid plans with unlimited 5G by Reliance’s Jio has put rival Bharti Airtel on the back foot in the Indian market and may delay recovery in its key profit metric, JP Morgan analysts said on Thursday.

Jio, the telecoms unit of Indian conglomerate Reliance Industries, launched new postpaid plans last week, starting from Rs. 399 ($4.85) that included over-the-top (OTT) packages, forcing Bharti Airtel to roll out similar plans.

“We were surprised to see Bharti turn defensive with counter-plans,” JP Morgan analysts said in a client note, adding that unlimited 5G data consumption would also delay any kind of 5G monetisation, pressure the expansion of average revenue per user (ARPU) and delay 4G prepaid tariff increases.

Bharti’s new family plans can drive ARPU drops of Rs. 100-200 per subscriber and any subsequent price matching to that of Jio can drive further ARPU drops of Rs. 50-100 per subscriber, the analysts said.

Stiff competition to attract 5G subscribers would reduce the pricing power for the operators and they will not be able to monetise 5G by charging a premium, they added.

Analysts kept their “under weight” rating on Bharti Airtel, saying that ARPU expansion for Bharti was at risk and could even reduce over 2024-25 as 5G price wars take place.

Both, Jio and Bharti Airtel have been rolling out 5G services across the country.

© Thomson Reuters 2023

Affiliate links may be automatically generated – see our ethics statement for details.

Check out our Latest News and Follow us at Facebook

Original Source

TCS, Infosys Have Highest Exposure to US Regional Banks, Says JP Morgan After SVB Collapse

Top Indian information technology firms Tata Consultancy Services and Infosys have the highest exposure to regional banks in the United States that are gripped by a financial turmoil, analysts at JP Morgan said on Friday.

Regional banks in the United States account for 2-3 percent of their revenue, JP Morgan said in a note, adding that the exposure to the recently collapsed Silicon Valley Bank could be 10-20 basis points for TCS, Infosys and smaller rival LTIMindtree, with the Tata group company in the lead.

All three companies might need to set aside provisions in the fourth quarter due to their exposure to SVB, JP Morgan said in a note.

“The collapse of SVB, Signature Bank and concerns of liquidity across US and the European Union can further soften tech spends by banks over the short term in a year with slowing growth in bank tech budgets,” JP Morgan, which has an “underweight” rating on the sector, said.

India’s IT industry is already facing a challenging macroeconomic environment in its key markets of Europe and the United States, where technology spending is contracting amid delays in decision-making on long-term deals as the pandemic-led surge in demand faded.

The banking crisis could delay deal ramp-ups, impacting revenue conversions over the next two quarters, and push back new order closures that could hurt revenue over the next four quarters, JP Morgan said.

Indian IT firms draw the bulk of their revenue from the banking, financial services and insurance (BFSI) sector.

Within BFSI, their exposure to the US banks is on average 62 percent and Europe 23 percent, JP Morgan said.

LTIMindtree this week said it had negligible exposure to US regional banks, including SVB.

© Thomson Reuters 2023

The OnePlus 11 5G was launched at the company’s Cloud 11 launch event which also saw the debut of several other devices. We discuss this new handset and all of OnePlus’ new hardware on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated – see our ethics statement for details.

Check out our Latest News and Follow us at Facebook

Original Source

Crypto Will Merge With Traditional Finance as Regulation Increases, Predicts JP Morgan

JP Morgan, one of the largest banks in the US, has not shied away from expressing its belief in the crypto sector despite the fluctuations affecting the market. As highlighted in its latest Global Markets Strategy report, JP Morgan is expecting the crypto industry to undergo significant changes with the onset of 2023. Along with more regulations, JP Morgan believes that the use of self-custodial hardware wallets could help people feel safer about their crypto holdings, thus bringing in more investments.

JP Morgan has predicted that a significant part of global crypto regulation, will be inspired by rules that govern the existing traditional finance (TradeFi) sector, like regular KYC requirements and reserve audits for exchanges, stablecoin issuers, as well as lenders and custodians.

The lender bets that these rules would eventually lead to the convergence of crypto with TradFi.

For now, there are a handful of issues that need to be resolved to safeguard the crypto industry against as many risks as possible.

Risks around hacking of smart contracts and over-collateralisation disadvantage of DeFi over TradeFi have been named among serious punctures in the crypto sector.

JP Morgan, that claims to cater over 135,000 clients in more than 180 nations, was set up in the year 2000. Almost 23 years into business, the lender is now looking to establish itself in the new-age Web3 sphere.

In recent months, JP Morgan has taken several decisions to support the adoption of crypto. The largest bank in the US is expected to launch a crypto wallet service in the near future.

The bank’s predictions coincide with other research reports that also claim that laws around the crypto sector would also snatch BTC away from scammers using to use it as a tool for processing financial exploits.

In a recent report, cybersecurity firm Kaspersky said that the upcoming rules and regulations around crypto transactions all over the world, will make Bitcoin less enticing for criminals to use as a payment gateway.

Nations around the world are coming together to provide the crypto industry with legal oversight. Last month, the European Parliament Committee on Economic and Monetary Affairs (ECON) approved the MiCA legislation, that largely revolves around consumer protection as well as prevention of market manipulation and financial crimes in the crypto sector.

The Organisation for Economic Cooperation and Development, or OECD, is planning to present a taxation framework around the crypto sector to members of the G20 nations in the coming days.

Next month, India will take up the presidency of the G20 group and will continue to preside the international union for the next one year. Among its top priorities, India is looking to work with the other 19 member nations of the G20 in formulating a framework around cryptocurrencies, that would work on an international level.

Check out our Latest News and Follow us at Facebook

Original Source

Exit mobile version