Sibos 2024: Blockchain breakthroughs and Liink's leap with JP Morgan - video interview

Summary

In a Fintech Futures interview, Tyler P. speaks with Gloria Juan, Director of Link by Onyx at JP Morgan, about the evolution of their blockchain initiative aimed at enhancing cross-border payments. Since its launch in 2019, Link has expanded beyond banks to include fintechs and corporates, addressing settlement inefficiencies through secure information exchange. Gloria highlights the importance of participant collaboration and the positive client feedback received, which drives future developments. At this year’s Cyos event in Beijing, JP Morgan aims to strengthen client relationships and showcase their innovative solutions, emphasizing the value of a comprehensive network infrastructure.

Takeaways

• 😀 Tyler PA, a reporter for Fintech Futures, interviews Gloria Juan from JP Morgan about the bank's innovation initiatives.
• 😀 Gloria Juan works in the Onyx division at JP Morgan, focusing on leveraging digital and distributed ledger technology for banking applications.
• 😀 The Link initiative, launched in 2019, aims to improve settlement efficiency in cross-border payments by enhancing information exchange among banks and financial institutions.
• 😀 The initiative has evolved to include non-bank financial institutions and corporates, broadening its use cases and market reach.
• 😀 Key milestones for Link include participants launching new products powered by the network and automating previously manual processes.
• 😀 JP Morgan's presence at the CYOS conference in Beijing aims to strengthen client relationships and share insights on payment modernization.
• 😀 The Link network offers a single technical integration with common commercial rules, allowing participants to leverage global account validation solutions.
• 😀 Link's capabilities support real-time, cross-border fund movements, addressing the need for faster transaction processing.
• 😀 Challenges in expanding Link's reach include navigating diverse regulatory environments and data privacy concerns across different markets.
• 😀 Client feedback has been instrumental in shaping future developments of Link, emphasizing the importance of collaboration and partnership in achieving payment modernization.

Q & A

What is Gloria Juan's role at JP Morgan?

Gloria Juan is the director of the Link initiative within the Onyx division of JP Morgan, focusing on leveraging digital distributed ledger technology for banking.

When did the Link initiative begin, and what was its original purpose?

The Link initiative began in 2019 with the goal of connecting banks to address settlement inefficiencies in cross-border payments through secure information exchange.

How has the Link initiative evolved since its inception?

Link has expanded its scope to include non-bank financial institutions, fintechs, and corporates, adapting to a rapidly changing market landscape and increasing use case adoption.

What are some of the milestones achieved by the Link initiative?

Milestones include the launch of new products powered by Link, improved settlement rates, and enhanced automation of manual processes among participants.

What is JP Morgan's focus at the CYOS conference in Beijing?

At the CYOS conference, JP Morgan aims to build stronger client connections, share their vision, and engage in discussions to understand client needs and challenges better.

How does Link utilize blockchain technology in its operations?

Link uses blockchain to create a network infrastructure that allows for a single technical integration, enabling participants to validate accounts globally and improve real-time fund movement.

What challenges does Link face in expanding into new markets?

Challenges include breaking down data silos, navigating different regulatory environments, ensuring data privacy, and addressing varying client demands and competitive landscapes.

What feedback have clients provided regarding the Link initiative?

Clients have expressed appreciation for the secure data exchange and the innovative ways Link allows them to modernize their payment processes and explore new revenue streams.

How does Link plan to address the data completeness gaps in key regions?

Link aims to unlock new data coverage on its network by collaborating with various market participants to enhance data completeness and facilitate secure exchanges.

What is the significance of the partnerships formed through the Link initiative?

Partnerships are crucial for fostering collaboration among banks and other institutions, enabling innovation and the development of new products that benefit the entire network.