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Merger: JPMorgan Chase & Bank One (5th Largest Bank by AUM Globally)

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Objectives

  • Successfully lead the JPMorgan Chase merger with Bank One in the Treasury and Securities Division.
  • Daily Global Funds Transfer between both the banks was $1.1 Trillion/day
  • Recover and realigned a complex initiative recommended for scrapping & reinitializing by Accenture Consulting.
  • Managed multiple projects concurrently, ensuring seamless integration and enhancement of IT systems.

Solution

  • Leadership and Realignment: StonyPoint led the recovery of the Insight 8.0 upgrade and conversion project, which was initially a $90 million investment involving 397 resources over three years. This project was crucial for Bank One merger and daily Global Fund transfers of $1.1 Trillion/day for large and medium global clients.
  • Managed over seven Merger/Gap projects cumulatively and three projects concurrently at different stages of their lifecycle in a matrix environment.

Key Projects

  • ACE Stage 4: Automated the implementation process for Global Client Access Cash Online Services on the JPMorgan ACCESS portal, serving over 48,000 users and integrating over 44 applications.
  • Insight 8.0 Upgrade and Conversion: Developed an end-to-end process for upgrading over 2300 existing customers of the Global Funds Transfer software application (Wires, ACH) with 105 versions of the software. The ACE 4 & Insight 8.0 Upgrade was a prerequisite and that allowed for the Bank One merger to occur successfully.
  • Bank One’s FirstWindow to JP Morgan’s Cash Online: Defined the process and created a tool to migrate ~2500 customers from the FirstWindow product to the Global Funds Transfer web-based application of JPMAccess/Cash Online.
  • Bank One’s FirstWindow to JP Morgan’s Insight 8.0: Created an automated workflow and embedded tool to migrate Bank One FirstWindow 780 customers to JP Morgan’s Insight 8 Client/Server based Global Fund Transfer Application.

Tangible Outcomes

  • Successfully delivered the application upgrades and merger, ensuring the continuation of daily fund transfers for global clients.
  • Enhanced automation and seamlessly integrated multiple systems and applications, ensuring a smooth transition during the merger and enhancing overall IT infrastructure.
  • Recovered a $90 million investment demonstrating effective re-architecture, complex turn around and resource management.