BUSI 330 LIBERTY UNIVERSITY Marketing Plan Final Plan Assignment 2025.docx

Marketing Plan: Final Plan Assignment

Breana Picchiottino

School of Business, Liberty University Online

BUS 330: Principles of Marketing

Professor Lexi Henegar

June 30, 2025

Table of Contents 1. Executive Summary

The phrase “Mobile First, Digital Everything” was uttered by CEO of JPMorgan Chase

Jamie Dimon at the start of his career with the firm in 2006 (ICMR India, n.d.). Almost two

decades later, the firm is leading the way in mobile and digital advancements with the

introduction of the first ever mobile cash deposit system for mobile app users. This

revolutionary technology will bring enhanced security features through serial tracking and serve

as a valuable asset for expanding in underreached market groups. Product promotion and

distribution will be carried out by taking advantage of the firm's significant domestic and global

presence as well as their existing advanced mobile platforms. User adoption rates and

operational savings are substantial, surpassing over a billion dollars within the next five years,

which articulates the substantial benefits of this service announcement. JPMorgan’s initiative in

this space will deliver heightened security and convenience while simultaneously helping those

who are historically underbanked and saving the firm exponentially.

2. Company Description

JPMorgan Chase was established in 1799 originally functioning as New York City’s first

ever water company and utilizing the name The Manhattan Company (JPMorgan Chase & Co.,

2024d). Originally chartered by New York’s state legislature, the company was allowed to

employ spare capital for banking purposes. Shortly after, founders Alexander Hamilton and

Aaron Burr were able to get The Bank of the Manhattan Company operational. By 1868,

numerous predecessors of the firm had been established through the National Bank Act, which

was passed in 1863, including Drexel, Harjes & Co., the earliest predecessor based in Paris,

France. In 1871, J. Pierpoint Morgan merged with Anthony Drexel to form Drexel, Morgan & Co.

which would lead the way as a private merchant bank headquartered in New York and

specializing in railroad investments. The firm would receive its new name J.P. Morgan & Co. in

1895. Following the world’s post-war era, the 1950s were marked by a consolidation of financial

institutions which included the firm's acquisition of four heritage firms in New York City. The

start of the new century brought about another name change as the firm acquired The Chase

Manhattan Corporation in 2000 and adopted the name J.P. Morgan Chase & Co. After merging

with Bank One in 2004, the periods in the name were removed resulting in the current title of

JPMorgan Chase & Co. Upon the acquisition of Bank One, Jamie Dimon was appointed CEO of

the firm in 2006 and still holds the position to this day (JPMorgan Chase & Co., 2024e). The firm

has continued their expansions by establishing their presence in 48 states with the addition of a

branch in North Dakota in 2021 and acquiring First Republic Bank in 2023 (JPMorgan Chase &

Co., 2024d).

JPMorgan Chase has three recognized business segments which include Consumer &

Community Banking (“CCB”), Commercial & Investment Banking (“CIB”), and Asset & Wealth

Management (“AWM”) (JPMorgan Chase & Co., 2024c). Their consumer business falls into CCB

while wholesale business is under CIB and AWM. Examining their consumer business, CCB

reaches consumers and small businesses through bank branches, ATMs, online banking and

telephone banking. These different outreach methods entail a variety of different departments

including Banking & Wealth Management, Home Lending, Card Services, and Auto. Across all

four of these different departments the services offered include deposits, payments, cash and

investment management, mortgage origination, home equity loans, credit cards, and auto loans

and leases. Continuing on to wholesale business, CIB has two distinct departments, Banking &

Payments, and Markets & Securities. This segment caters mainly to corporate and institutional

clients providing services such as investment banking, lending, and financing as well as risk

assessment, market-making, and Securities Services. Lastly, AWM includes both Asset

Management and Global Private Bank. The department of Asset

Management provides investment management to a broad range of clients by providing

solutions regarding fixed incomes, equity, and money-market funds. The Global Private Bank is

reserved for high net worth clients and assists them with retirement and estate planning, as

well as brokerage accounts and additional deposit and investment management.

With such expansion and detailed services, JPMorgan Chase has been consistently

recognized for its monumental influence in the financial world. In 2024, Fortune ranked the firm

5th on its list of the World’s Most Admired Companies for the second consecutive year

(JPMorgan Chase & Co., 2024b). Additionally, Times Magazine listed JPMorgan Chase as one of

their 100 Most Influential Companies in 2023. That same year was also big for the firm globally

as they were recognized once again by Fortune on their list of companies changing the world.

Recognition has also been awarded for the firm’s internal structures as LinkedIn placed the

company on their top employers list in 2023 and highlighted the potential for career growth.

3. Strategic Focus and Plan

To examine the strategy of JPMorgan Chase, three specific areas will be explored

indepth. These sectors include the mission of the firm, their financial and nonfinancial goals,

and the core competencies and sustainable competitive advantages that are held by the firm.

Mission

The firm's mission is detailed through five main pillars, their purpose, vision, values,

principles, and promises. JPMorgan Chase is united behind their purpose statement to “Make

Dreams Possible, for everyone, everywhere, everyday” (Dimon, 2023). This purpose statement

communicates the impact that the firm aspires to provide. This pursuit is upheld by their

company vision which lays out the ambition that the firm holds themselves to. The vision

statement states, “We aim to be the most respected financial services firm in the world, serving

corporations and individuals (Dimon, 2023). In order to abide by their vision statement and

achieve their designated purpose, JPMorgan Chase has established five guiding values that are

to unite the mindsets of its employees. These values include service, heart, courage, excellence,

and curiosity. In addition to these key values, the firm also employs four main business

principles that guide how they work. JPMorgan Chase strives for exceptional client service,

operational excellence, a commitment to integrity, fairness, and responsibility, and a great team

and winning culture. Lastly, the firm makes four promises to its clients, employees,

communities, and shareholders which include powering economic growth, uplifting

communities, championing opportunity and enterprise, and being a great place to work.

Goals

Looking onward to 2025, JPMorgan Chase has established the following growth drivers: ●

Nonfinancial Goals for 2025 (JPMorgan Chase & Co., 2025)

1. To achieve growth in the auto lease department.

2. To see an increase in capital markets activity.

3. To invest in furthered business growth regarding onboarding more bankers and

advisors as well as the establishment of more branches.

4. To invest more into technological products and services.

5. To further technological business and volume growth through the establishment

of public clouds and data centers.

6. To continue driving and increasing demand for card products.

7. To enhance customer engagement.

● Goal Recommendations for the Firm:

1. To prioritize the customer experience by re-evaluating current fees and service

charges for consumer products by the end of the third quarter in 2025.

2. To streamline and expand online account openings to enhance efficiency and

convenience by 20% for consumers by 2026.

3. To establish 1,000 Card Service Departments in branches to assist clients more

effectively with credit card inquiries and issues by 2028.

● Financial Goals (JPMorgan Chase & Co., 2025)

1. To achieve a Return on Tangible Common Equity of 17% for 2025.

2. To achieve a Net Interest Income excluding markets of $90 billion for 2025 3.

To achieve a Net Interest Income including markets of $94.5 billion for

2025.

4. To operate accordingly with an expense outlook of $95 billion for 2025.

Core Competency and Sustainable Competitive Advantage

The core competencies regarding JPMorgan Chase reflect their unique desires to (1)

establish exceptional client franchises with a consumer centric focus while being the easiest to

do business with and (2) providing long-term shareholder value while being a complete, global,

diversified, and at scale entity (JPMorgan Chase & Co., 2025).

Relating these core competencies to the sustainable competitive advantages that are

held by the firm, JPMorgan Chase has unmatched consumer centric data metrics that are

enhanced by their dedication to expansion. One goal the firm has established is to “Be the Bank

for All” (Aquino, 2024). This goal has led the firm to announce their anticipated expansion into

25 different markets with the addition of 400 new branches, cementing their presence as the

largest financial institution with locations in 48 out of the 50 states (“What Makes JPMorgan”

2023).

Such vast size and growth pursuits are not easily rivaled by competing financial institutions.

JPMorgan Chase is recognized as the number one institution for U.S. retail deposits, the top

issuer of U.S. credit cards, and the primary bank for businesses (JPMorgan Chase & Co., 2025).

Continuously, their pursuit of providing long-term value to their shareholders is demonstrated

through their financial records and continual growth. Revenue in 2024 topped $173 billion and

represented the firm's 9th year of consecutive growth. The ten-year growth for the firm is

double that of its peers including Bank of America, Citigroup, Goldman Sachs, Morgan Stanley,

and Wells Fargo. The firm continues to present itself as the top manager of investments globally

holding client assets of $5.9 trillion in active portfolios (JPMorgan Chase & Co., 2024c). This

client base and financial revenue is unmatched by other financial firms who do not possess such

size and capital.

4. Situational Analysis

A situational analysis for JPMorgan Chase will be conducted through the presentation of

a SWOT (strengths, weaknesses, opportunities, and threats) analysis complete with

commentary. Additionally, a deeper exploration will be provided of the firm’s industry,

competitors, company, and client base.

SWOT Analysis ● Strengths

1. Diversified Business Model: Three distinct business segments (JPMorgan Chase

& Co., 2024c) allow for varied revenue sources which maximize profits and

mitigates risks and reliance on a sole sector (Kitov, 2023).

2. Strong Global Presence: Profound domestic and international networks and

operations allow for enhanced market penetration and customer accessibility

(Kitov, 2023).

3. Robust Financial Performance: Consistent financial stability, as proven by

financial metrics that surpass industry averages, reflects high profitability and

asset management (Kitov, 2023).

4. Resilient Capital Position: Maintains a strong capital base that demonstrates

acute ability to withstand financial stressors (JPMorgan Chase & Co., 2024c).

● Weaknesses

1. Regulatory Risks: Heavy regulation oversight may lead to legal challenges and

compliance costs and requires a significant allotment of resources and personnel

to ensure compliance (Kitov, 2023).

2. Operational Risks: Substantial reliance on operating systems and those of third

parties raises the risk of delays, financial losses, and confidentiality breaches

(JPMorgan Chase & Co., 2024c).

3. Strategic Risks: Poor managerial decisions regarding business and marketing

strategies may lead to financial decline. Increasing competition and climate

change concerns pose additional strategic risks for management (JPMorgan

Chase & Co., 2024c).

4. People Risks: Intense competition regarding attainment of qualified personnel

coupled with technological advancements as well as changes to immigration and

travel policies may impede talent acquisition and retention which hinders

performance (JPMorgan Chase & Co., 2024c).

● Opportunities

1. Global Expansion: Due to the strong financial position possessed by the firm,

they are well equipped to further explore expansion opportunities into emerging

markets and continue diversifying their revenue streams (Kitov, 2023).

2. Strategic Acquisitions: A growth strategy often utilized by the firm,

wellcoordinated mergers and acquisitions increase market presence and expand

the firm’s client base (JPMorgan Chase & Co., 2024c).

3. Technological Advancement: Increasing investments into digital solutions that

bolster operating systems and collaborating with financial tech companies

provide an excellent opportunity for the firm to enhance digital banking services

(Kitov,

2023).

● Threats

1. Regulatory Changes: The ever-changing regulations that govern the finance

industry pose a significant threat to the firm if they fail to be vigilant in

monitoring and adapting to changes (Kitov, 2023).

2. Economic Uncertainty: Adverse economic and market events as well as

uncertainty in the U.S. and global economies can negatively affect the firm's

profitability and asset quality (JPMorgan Chase & Co., 2024c).

3. Intensifying Competition: As the finance industry continues to evolve,

competition has continued to increase significantly and may impact the firm’s

pricing strategies as well as their market share (JPMorgan Chase & Co., 2024c).

Favorable internal factors for the company include its diversified business model,

which compiles three distinct segments: Consumer and Community Banking,

Commercial and

Investment Banking, and Asset and Wealth Management (JPMorgan Chase & Co., 2024c).

Additionally, the firm holds a large global market presence with branches located in 48 states

and employees stationed in 66 countries. A strong workforce and global presence allows the

firm to turn out impressive financial metrics such as their Return on Assets (ROA) which

surpasses the industry-average at 1.5% (Kitov, 2023). Furthermore, their capital positioning,

which measures the firm’s financial strength, sits at Tier 1 with a data metric of 16.8 indicating

strong financial health and stability (JPMorgan Chase & Co., 2025a).

Examining favorable external opportunities, the firm is well-positioned to expand their

operations globally which would help establish a “more balanced and resilient revenue stream”

(Kitov, 2023, pg. 4). Such expansion would allow the firm to diversify the economic market

cycles they participate in thus reducing reliance on a single sector and mitigating the risks

caused by the potential economic decline of specific regions. Continuing to pursue strategic

acquisitions, such as the one recently completed with First Republic Bank in May of 2023, allows

for the potential of increased revenue (JPMorgan Chase & Co., 2024c). Acquiring First Republic

increased the firm’s average deposits, which led to an increase in net interest income, and

decreased noninterest expenses proving the benefits of such strategies. Lastly, investing into the

digital sector to enhance client’s mobile banking experience will prepare the firm well to handle

the increase of technology. Choosing to jump on the opportunity to collaborate with financial

tech companies (fintech) has the potential to create new revenue streams while simultaneously

streamlining operating systems and customer experiences (Kitov, 2023).

JPMorgan Chase outlines their top risk factors in yearly reports and U.S. Security

Exchange Commission filings which detail the weaknesses of the firm. There are four specific

risks of utmost importance which include: Regulatory, Operational, Strategic, and People

(JPMorgan Chase & Co., 2024c). Ensuring that banking and finance regulations are met, limiting

reliance on operating systems, implementing strategic business and marketing plans, and

working to attract and retain highly-qualified employees are all potential action steps the firm

must consider to combat these weaknesses and avoid adverse effects.

External threats facing the firm include regulatory changes, economic uncertainty, and

intensifying competition. Frequent regulatory changes may lead to an increase in compliance

violations if not adapted to which result in steep fines and lengthy legal battles while economic

disruptions caused by geopolitical events and trade tensions harm profitability (Kitov, 2023).

Competition, especially from digital-only banks and fintech disruptors, continues to increase and

jeopardize the firm’s market share.

Industry Analysis: Trends in Investing and Banking

JPMorgan Chase & Co. operates in the financial industry conducting business both in

banking and investing. This section will review two current industry trends in both sectors as

well as one major factor that is impacting the finance industry as a whole.

Investing. The first rising trend in investing is regarding the sustainability of finance

(Marr, 2023). Consumers are expecting that financial companies prioritize sustainability and

Environmental, Social, and Governance (ESG) factors. As such, the investing sector has seen an

uptick of support for investments in green initiatives like renewable energy and recycling. In

addition to this green financing, other alternatives include social impact investing as well as

leveraging ESG commitments to attract socially conscious investors (Suardana, 2024).

The second trend in investing is digital and crypto currencies (Marr, 2023). The inquiry

into utilizing central bank digital currencies (CRDCs) has grown to over 130 countries. This sector

is still fairly unexplored so it is anticipated that with its current growth, additional governance

and regulations will begin to populate. Additionally, Bitcoin has been making a comeback in the

crypto currency market. After recovery from its crash in 2021, the company has been garnishing

the attention of innovators and investors which has fostered the crypto currency trend.

Banking. The first current trend in banking is cyber-security and fraud detection (Marr,

2023). As the complexity of cyber threats increases, the need for advanced counter strategies

becomes stronger. An estimated $215 billion was spent by companies on security and risk

management in 2024 which represents a 14.3% increase from the year prior. Cyber-security

threats have also inspired banks to begin investing in multi-factor authentication, blockchain,

and other security measures to ensure the protection of client and firm data (Suardana, 2024).

Specifically, the use of blockchain banking, which employs distributed ledger technology that

aids in transaction authentication, has received growing popularity in the banking sector (Marr,

2023). Examining a specific case study, JPMorgan implemented its own blockchain system called

the interbank information network (IIN) which increased transactional efficiency and elevated

the firm’s industry standing (Liu, 2024). Such examples speak to the efficiency of currently

trending technology.

The second banking trend is that of the customer experience (Marr, 2023). Technological

advancements continue to innovate this area of banking as each customer’s journey is analyzed

to increase satisfaction and reduce inconveniences. Banks are beginning to prioritize

omnichannel approaches that include user-friendly interfaces while working to deliver

personalized experiences that achieve customer engagement (Suardana, 2024). Technology

such as Virtual Reality (VR) aids in the pursuit of interactive and personalized experiences that

engage the clientele (Marr, 2023). Outside of technology, however, customers are also

preferring seamless transitions between all platforms such as mobile apps and online websites,

but also ATMs and physical branches as well (Suardana, 2024).

Finance Industry. It is important to recognize one of the largest impacting factors to the

finance industry currently which is the rise of AI and fintech (Marr, 2023). Generative AI utilizes

chatbots that have been implemented on banking mobile apps and websites by numerous

industry leaders. Firms have begun utilizing AI algorithms to obtain a deeper understanding of

their client base (Ranjan, 2025). As AI continues to advance, it is likely that personalized

financial plans as well as investment strategies will be generated and tailor made based on

customer profiles (Marr, 2023). Fintech innovations include peer-to-peer lending, digital

payments, and robo-advising which have challenged traditional banks by increasing

personalization and convenience for clients (Suardana, 2024). Again examining a specific case

study, JPMorgan Chase has responded to this challenge by launching its own digital payment

platform known as Chase Pay (Liu, 2024). Additionally, as fintech increases so does the

opportunity for collaboration between traditional firms and fintech startups (Suardana, 2024).

JPMorgan Chase has been able to integrate cutting-edge technology by engaging in such

collaborations which has increased customer engagement and satisfaction (Liu, 2024). Proven

success by JPMorgan Chase highlights the appropriate strategies available to the finance

industry as they navigate the changes brought about by AI and fintech.

Competitor Analysis: The Financial Services Industry

The top competitors of JPMorgan Chase that will be examined in this analysis are some

of the leading players in the financial services industry. They include Bank of America, Citigroup,

and Wells Fargo (Liu & Wang, 2024). When conducting a baseline comparison based on four

main data metrics-Return on Equity (ROE), Return on Assets (ROA), Net Interest Margin (NIM),

and Return on Invested Capital (ROIC)-JPMorgan Chase outperforms its main banking

competitors Bank of America and Wells Fargo. This provides a significant advantage to the firm

in corporate management, reinvestment capabilities, and generating value. Additionally, low

data metrics for the two competitors highlight weaknesses in their quest to oust JPMorgan

Chase as the industry leader. However, when compared to Citigroup, JPMorgan Chase lags by

numerous percentage points in both ROA and NIM indicating that Citigroup has advantages in

efficiency and interest rate management (Kitov, 2023).

Wells Fargo does hold an advantage over JPMorgan Chase in regard to its Price-

toEarnings ratio (P/E) leading by more than two points indicating that the market is more

favorable towards Wells Fargo in terms of growth and profitability (Liu & Wang, 2024). Bank of

America ranks third in this metric again providing limited competition to JPMorgan Chase.

Comparison of the firm’s debt ratios and asset turnover rates indicate a fairly level playing field

among Bank of America, JPMorgan Chase, and Wells Fargo meaning that operational leverage

and asset utilization efficiency are similar. However, Wells Fargo falls significantly behind in

terms of Net Profit Margin leggings by over ten percentage points from the top competitors.

Although Bank of America is second to JPMorgan Chase in this data metric, the difference is less

than half a percentage point suggesting a potential point of advantage for Bank of America.

When examining the long-term, the ten-year growth for the firm is double that of its peers

including Bank of America, Citigroup, and Wells Fargo (JPMorgan Chase & Co., 2025b). This

competitor analysis confidently places JPMorgan Chase above most other financial service

leaders yet showcases potential areas of improvement due to the advantages held by

competitors.

Company Analysis

Completing a company analysis of JPMorgan Chase will include a detailed dive into the

firm’s (1) leadership, (2) supply network, and (3) recent financial performance.

Leadership. The leadership at JPMorgan Chase is dispersed across their board of

directors which currently consists of twelve members with chairman and chief executive officer

being Jaime Dimon (JPMorgan Chase & Co., n.d.c). Seven out of the twelve members have been

elected to the board in the past five years suggesting a recent leadership restructuring. The

board is responsible for management of the firm on behalf of its stockholders and works either

directly or through the use of committees (JPMorgan Chase & Co., n.d.a). There are nine

different committees that board members work through, five of which are principal standing

committees which include, Audit, Compensation & Management Development, Public

Responsibility, and Risk committees. Additionally, the firm has one stock committee and board-

level executive committee as well as two specific purpose committees which include Markets

compliance and Omnibus committees. Each different committee works to ensure that

operations both towards clients and employees are working effectively and ensuring satisfaction

and safety.

Supply Network. The process of building JPMorgan Chase’s supply chain has taken place

over the course of the past thirty years (JPMorgan Chase & Co., n.d.d). The firm has a

commitment to ensuring that its supply chain is strong, diversified, and inclusive. They operate a

Global Supplier Diversity program which works to enable the growth of business within their

supply chain network. Continuously, the firm has launched their Corporate Alliance for

Supporter Capital which helps small and underrepresented businesses qualify to serve

corporations. To ensure that sustainability is achieved through the products and services they

purchase, the firm has implemented a supply ESG program to ensure purchases are more

environmentally conscious JPMorgan Chase & Co., n.d.e). Accountability is present throughout

the company and its supplies to ensure that there are no ethicality issues and that sustainable

practices are being lived out. While JPMorgan Chase does not disclose an exact list of their

supplies, they do conduct a program known as their Gold Suppliers which elevates the status of

preferred suppliers that have delivered outstanding performance to the firm (JPMorgan Chase &

Co., n.d.b). This program helps the companies grow in their business with the firm and acts as a

strategic stepping-stone to long-term success with JPMorgan Chase.

Financial Performance. Recent financial performance of the firm positions it well to

accomplish targeted financial goals for 2025. In regard to Return on Tangible Equity (ROTCE), the

firm surpassed the 2025 goal of 17% by achieving a ROTCE of 22% for 2024 (JPMorgan Chase &

Co., 2025a). Due to markets Net Interest Income (NII) increasing from one billion to four and

half billion in 2025 due to lower funding costs, the firm is also well positioned to achieve their

stated firmwide NII of 94.5 billion (JPMorgan Chase & Co., 2025b). An unchanged expense

outlook of 95 billion for the firm indicates that it is well-equipped to achieve its stated

nonfinancial goals including those relating to technological investments, marketing, volume, and

revenue growth. The firm has dedicated a technology expense budget of 18 billion for 2025

suggesting that growth and convenience in online account openings will be improved. In fact,

the firm employs over forty thousand engineers with coding assistants that have 100 AI

solutions in production. Additionally, the firm ranks number one in U.S. credit card issuers

(JPMorgan Chase & Co., 2025), implying a significant market advantage and incentive to achieve

goals relating to streamlining their Card Services Departments. Lastly, as competition increases

JPMorgan may need to reevaluate their prices for offered products and services (JPMorgan

Chase & Co., 2024c), however, 2024 data still lists them as number one in U.S. retail deposits

(JPMorgan Chase & Co., 2025c). Examining their financial data metrics as well as their budgeted

expenses, JPMorgan Chase is well-equipped to meet and even surpass their 2025 growth

drivers.

Customer Analysis

When conducting a customer analysis of JPMorgan Chase, it is imperative to clarify that

the firm does not publish or disclose any information regarding their customers demographics.

This is due to the stringent privacy regulations that financial institutions are held to. However,

the firm's private research institute has published studies that highlight recent trends in certain

demographics and sectors. Consequently, this analysis will expound on the statutory limitations

that the firm is held to as well as the only published studies that provide limited analysis of

financial consumers.

Legal Limitations. Passed in 1999, the Gramm-Leach-Bliley Act (GLBA) is the leading

privacy protection act that influences data sharing throughout the finance industry (Walrath,

2017). This law requires that financial institutions provide privacy notices to all their clients to

communicate how their private information is shared with affiliated third parties. Furthermore,

firms are required to protect the security and confidentiality of customer information and

ensure that the integrity of the information is not compromised through threats, hazards, or

unauthorized users (Federal Deposit Insurance Corporation, 2022). Certainly, JPMorgan Chase

collects client information as it is required to provide products and perform services for clients,

however, the information collected is for internal use only and only available to employees to

perform their jobs. Examining the privacy policy published on the company’s website, it is well-

established that the sharing of client information is done solely for business purposes including

everyday transactions and marketing (Chase, 2025). Continuously, the GLBA requires that

consumers are given the opportunity to opt-out of certain information sharing (Federal Deposit

Insurance Corporation, 2022), and the website highlights how clients are able to opt-out of

information sharing with affiliates of the firm (Chase, 2025). Considering the current regulations

in place and the firm’s own privacy policy, JPMorgan Chase is legally unable to disclose through

any of its published reports or filings the personal information of its client base, such as age,

race, gender, or income.

JPMorgan Chase Institute Findings. The JPMorgan Chase Institute conducts research on

financial topics and general market trends and publishes its findings to the public on the firm's

website. The study reviewed in this analysis will highlight demographic changes in retail

investors. Although the data provided in this report was self-identified and provided to the

institute by a third party (JPMorgan Chase & Co., 2023b), the information still provides helpful

insight into the customer base that the firm is likely servicing. Three key findings regarding the

age, gender, and race of retail investors were reviewed throughout the report (JPMorgan Chase

& Co., 2023b). Regarding the age of investors, growth among the younger generation has

greatly expanded and the monthly shares being invested by individuals under forty has tripled

over the past decade and is surpassing those aged forty and above. Although men and women

both saw an increase in investments, the data was slightly high for men showing an association

with peaks in market volatility and surges and that men lead women in overall investment

activity. Lastly, examining race, Black and Hispanic individual’s investment percentages have

been increasing relative to those of White individuals and actually surpassed White and Asian

percentages in 2023. Investment expansion has been more prominent within Black and Hispanic

communities as well. Considering that the firm services 82 million consumers through their

banking segment, 900,000 of which walk daily in branches (JPMorgan Chase & Co., 2024a), this

study barely scratched the surface of understanding the firm's vast client base. However, the

presence of such institutions and studies allow for the pursuit of deeper knowledge in a heavily

confidential and regulated area.

5. Market-Product Focus

This sector will explore JPMorgan’s marketing and product objectives for the next five

years while highlighting the target markets, points of difference, and positioning of their newly

innovated mobile cash deposit system.

Marketing and Product Objectives

Approximately 3.6 billion individuals utilize online banking with 91% claiming it as one of

their top priorities (Elad, 2025). In fact, 77% of all banking transactions are completed entirely

online. With the expansion of mobile banking, it raises the question of how innovation may

continue to flourish. Reports have indicated that financial institutions must pursue rapid

innovation in order to distinguish their mobile platforms and remain competitive (Daughtery,

2025). Considering that 34% of people will switch banks due to better mobile and online

banking options, the possibilities to gain a competitive edge are plentiful (Stacker, 2024). With

such statistics in mind, JPMorgan Chase has worked to design the world’s first mobile cash

deposit system that aims to enhance security and better reach the unbanked and underbanked

communities. The firm aims to engage at .25% of their active user base in utilizing the system

within the first year of its launch and holds an acquisition goal of 5% market penetration within

the underbanked and unbanked market groups across the next three to five years. The goal is

that 70% of individuals will become repeat users after a year of the product's creation,

establishing a growing and loyal client base for the service. The following three sections will

highlight the current markets and expansion process.

Current Markets. Mobile check depositing systems have been around since mobile and

online banking took off, with all of JPMorgan’s top competitors such as Bank of America,

Citibank, and Wells Fargo offering the service through their respective mobile banking channels

(Zhen, 2025). Over 60% of financial institutions have credited the inclusion of remote deposit

systems for significantly transforming their online banking platforms (Worldmetrics, 2025).

More than half of financial firms estimate that remote deposits will completely replace in-

person deposits within the next decade with almost 100% of banking executives viewing it as a

crucial part of future banking strategies. Although mobile check deposit certainly is a popular

and growing use of online banking, other resources that appeal to consumers are 24/7 access,

monetary transfers between accounts, and online bill pay (Self Financial, 2024).

New Product. To capitalize on the growth of remote deposits, JPMorgan Chase has been

working to innovate and expand mobile deposits to include cash in addition to checks. Such a

system would utilize the serial numbers printed on the cash to ensure deposit and additionally

track what cash has been previously deposited. This innovation aims to not only provide

additional convenience for its users and enhance security measures due to additional tracking

but also find high levels of appeal among individuals who are unbanked or underbanked. In

regard to security measures, serialized tracking has been proven to aid in fraud prevention

(NetSuite, n.d.).

Due to the uniqueness of the number, it is difficult for counterfeiters to produce fake bills that

could overcome the detailed and precise tracking system. Additionally, such tracking enhances

traceability by keeping a complete history of the bill and its whereabouts. In reference to the

expansion into unreached groups, those who are reported as being part of the unbanked and

underbanked communities are more likely to entertain mobile banking and payment methods

than full bank users (Federal Reserve Board, 2016). Considering that individuals who are

underbanked rely more heavily on the use of their mobile device due to the potential lack of

other internet access points, they were reported to be 40% more likely to use mobile banking

(Electronic Transaction Association, 2022). Of those individuals who have no bank, two-thirds

were classified as households that rely entirely on cash only (Federal Deposit Insurance

Corporation, 2024). This data collection would suggest a high probability of success in servicing

these underserved communities.

New Markets. Although remote deposit technology has existed previously, the creation

of a mobile cash deposit system would lead the firm into an entirely new branch of the market

that has yet to be explored. JPMorgan Chase would lead the way in increasing innovations

within the online banking world. About 65% of financial institutions have been aiming to expand

remote systems to include other financial documents and ID scans (Worldmetrics, 2025),

however, none have focused their approaches on solely cash. Fortunately, serial tracking

systems for cash do exist including utilizing transaction identifiers for each bill and then scanning

the bill to connect the serial number and transaction identifier (World Intellectual Property

Organization, 2005). A separate system tracks serial numbers and compares them to those of

counterfeit bills which are kept in a separate log and aids in validating currency and identifying

individuals who attempt to use them (Google Patents, 2010). Applying these systems into their

mobile innovation would catapult the firm ahead of its competitors. Furthermore, unbanked

and underbanked communities represent a substantial market that is largely untapped by

financial firms (Electronic Transactions Association, 2022). Financially underserved markets were

reported to make up $1.3 trillion in wages which highlights the massive economic value that

such communities hold. There exists a considerable incentive for the firm to find services that

will cater to such groups as they work to broaden their expansion.

Target Markets

The target market for JPMorgan Chase’s mobile cash deposit system will include their

already expansive platform of digital users as well as those who are part of unbanked or

underbanked communities and those who may have concerns regarding safety and security.

Considering that the firm already reported 67 million active users across their digital platforms

in 2023 (JPMorgan Chase & Co., 2024), they are well positioned to introduce a new service

offered to their existing client base. When recognizing the unbanked community, which

represents 4.5% of the US, it is important to note that while a small percentage their economic

potential is promising (Goodstein, 2024). Roughly 3.5 million individuals without banks rely

solely on cash with the vast majority of these people being Hispanic. Continuing with a closer

look at the demographics most unbanked, data shows White and Black people trailing

Hispanics. An examination of education shows individuals with college degrees barely

surpassing those without a high school diploma in terms of being unbanked and relying solely

on cash. Income again displays a high amount of variation with top numbers belonging to

individuals who make fifty thousand or more annually while second place are those making

between fifteen and thirty thousand. When considering the underbanked community, 19

million individuals are in question as over 14% of US households are underbanked and reliant

on nonbank products (Federal

Deposit Insurance Corporation, 2024). Such significant amounts of variation and volume present

in the data suggest that the firm’s creation of this system would bring in a broad range of

consumers. Lastly, 35% of individuals have expressed security and fraud concerns through

online banking platforms (Self Financial, 2024). Over 54% of individuals report being the victim

of fraud through online platforms which correlates with the heightened level of concern. If the

firm focuses on marketing the enhanced security delivered through the serialized tracking

system it may appeal well to the groups who have concerns about fraud and security.

Points of Difference

The points of difference, or what distinguishes JPMorgan’s mobile cash deposit system

from its competitors, are detailed below.

First-of-its-Kind. All competing firms have advanced online banking platforms and

mobile deposit systems fit for check acceptance (Zhen, 2025), however, none have one that

specializes in remote cash deposits making this technology unique amongst competitors.

Convenience Without In-Person Visit. Rather than having to visit an ATM or physical

branch to make a cash deposit, this system provides convenience for the consumer in a manner

yet to be attempted by opposing financial institutions by expanding the services available to

them through online platforms which is something highly sought after by consumers (Self

Financial,

2024).

Robust Anti-Fraud Detection. Although all financial institutions remain vigilant to detect

and prevent fraud, a serial tracking system that would work specifically with cash transactions

has yet to be implemented within banks. Providing a system that boosts tracking and

traceability (NetSuit, n.d.), would bolster anti-fraud detection for cash transactions.

Financial Inclusion for Cash-Reliant Communities. Cash-depent individuals who are

grouped into unbanked and underbanked communities are notoriously underserved by financial

institutions (Goodstein, 2024). Expanding the mobile banking options available to those

individuals who rely on cash would provide a prime advantage to the firm as it takes the lead in

expanding into unreached markets.

Positioning

The future of cash banking is mobile as JPMorgan Chase' s invention brings increasing

innovation to the online banking world. Enabling users to deposit cash anywhere without

needing to visit a branch or ATM without compromising their safety and security bolsters

consumer confidence and convenient services. The firm’s approach would utilize similar

technological innovation that is currently emerging within financial institutions but expand its

use to cash further enabling them to increase financial access in underserved markets. All

characteristics combined strive to achieve a positioning with clients where they embrace a

digitized future that still prioritizes security and service.

6. Marketing Program

A marketing plan for JPMorgan Chase’s new mobile cash deposit system will be detailed

below utilizing the four elements of a marketing mix - Product, Price, Promotion, and Place.

Product Strategy

This section expounds on the offered product and its unique attributes while

simultaneously providing information on how it will be packaged towards consumers.

Product Line. While the launch of JPMorgan Chase's new mobile cash deposit system

will be stand-alone, it will complement their other pre-existing mobile app features which

include Zelle, ChaseQuickDeposit, and ChaseQuickPay (Chase, n.d.).

Unique Product Qualities. A mobile cash deposit system will be the first of its kind across

all financial institutions providing a unique service to Chase clients as the firm leads the way in

technological innovations. Additionally, the heightened security features delivered through the

product's serial tracking system will provide enhanced safeguards in cash handling, an area

more prone to money laundering and fraud (Blockworks, 2024).

Packaging. The packaging for this service will present the system to the consumer

through the Chase Mobile App and its existing delivery methods for their alternative online

features. A goal for the firm is to ensure that the Chase Mobile App, which is currently available

for download on IOS and Android devices, maintains a seamless, familiar, and integrated design

across all different platforms and features (JPMorgan Chase and Co., 2023a). With this goal in

mind, the product will be incorporated into the app’s dashboard which is designed to be

naturally intuitive and user-friendly, even offering onboarding and tutorials to educate

consumers on how to utilize different features.

Price Strategy

This mobile cash depositing system will be a complimentary service provided through

the Chase Mobile App to all current and future Chase clients. Such a pricing strategy mimics

other competing financial institutions where mobile deposits are a standard feature for account

holders (Martin, 2024.). Chase is able to provide such cutting-edge technology for free to its

client base while still reaping benefits for two main reasons. First, increased amounts of

technological investments have effectively discouraged in-person branch visits which have

disproportionately decreased the firm’s infrastructure costs (D3 Harvard, n.d.-a). Second, Chase

attracts an increased client base through convenient, technology-advanced banking systems.

This increase in clients results in elevated levels of money being held and invested as well as the

creation of additional revenue opportunities from credit cards and loans.

Promotion Strategy

The promotion strategy for the firm's mobile cash deposit system will feature an

integrated and cross-channel approach that utilizes social media, education, physical and

technological advertisements, and mobile advertisements.

Social Media. Chase has found success employing social media to advertise their new

product and services offerings, remaining active on platforms such as Instagram, Twitter, and

LinkedIn (Everything PR, 2024). Such an approach helps the firm reach younger audiences such

as Gen-Z by leveraging social media influencers and establishing brand ambassadors that work

to generate popularity and media attention around new products. Marketing this new mobile

cash deposit service will follow along similar lines including the use of paid social media

campaigns that are designed to be targeted towards specific demographics. To target select

individuals, the firm occupies different channels including Instagram stories, sponsored LinkedIn

posts, and Facebook ads. Additionally, the utilization of cinemas, videos, TV advertisements and

radios will be employed. Whether it be superbowl ads (Retail Dive, 2016), or featured films (We

Are Chase, 2021), harnessing the power of film and television has worked wonders to reach new

audiences and will be implemented in promotion of this new product.

Education. JPMorgan Chase prides itself on maintaining its reputation as a trusted

financial firm. To accomplish this, the firm leverages educational content that enables both

clients and non-clients alike to grow in financial literacy. Doing this not only helps promote the

services offered by the firm, but also grows engagement and trust with the consumer base

(Everything PR, 2024). Chase already operates different blogs such as their Chase Slate Edge

blog that provides personal finance and credit card information to the public. The addition of

this new product will begin to be incorporated in newly published blogs. Furthermore, the firm

also publishes educational videos that offer guidance on how to navigate their offered services

and manage one’s personal finances. The inclusion of these videos, highlighting the new mobile

cash deposit system-how to use it and the benefits from using it-will simplify a potentially

complex concept and expand its reach to a broadened audience.

Physical and Technological Advertisements. Engaging with a cross-channel approach of

in-branch and technological advertisements will broaden the scope of promotion for the new

service. Regarding in-branch promotions, the firm uses detailed display advertisements that are

routinely changed out to reflect new products or services (Everything PR, 2024). Chase’s

branches, which total over 4,800, are an integral part of their product and service promotions

(Your Business Model, n.d.). The branches play such a crucial role in part due to the personnel

that are working within. Teller’s current roles are to encourage and assist clients in the adoption

of digital banking (D3 Harvard, n.d.-b). Prompting and educating consumers on the new mobile

cash depositing system, especially when the client has come in to complete a cash transaction,

will be an effective promotion tool that associates of the firm will directly assist with. In addition

to these physical methods of advertisements, Chase will also exercise the use of emails, website

updates, and in-app notifications to draw awareness to the new service (Everything PR, 2024).

Mobile Advertisements. JPMorgan currently takes advantage of their internal app data

collection and analytic systems to cater in-app advertisements to specific target groups

(Everything PR, 2024). Engaging with these valuable data metrics enables the firm to produce

advertisements that are in line with the roll-out of new services yet still personalized to the

consumer based on their information, patterns, and app usage. Analyzing current app users and

seeing which clients would most benefit from utilizing the new mobile cash deposit system will

be a critical part of the promotion process as the firm wields the power of mobile

advertisements to enhance customer engagement and conversion rates.

Place (Distribution) Strategy

The mobile cash deposit system will be accessible through the Chase Mobile App which

is available for download from the app store on both IOS and Android devices (JPMorgan Chase

& Co., 2023a). Additionally, there will be published tutorial videos online at Chase.com that will

educate consumers on accessing and using the system. All physical branches will also enable

distribution of the product through education and promotion. Lastly, should a client need

assistance accessing or engaging with the system the firm employs chatbots and advanced

AIcustomer service systems that assist in providing exceptional customer service across all

platforms (Everything PR, 2024).

7. Financial Data and Projections

Past Sales Revenue

With the exception of 2022, revenue for JPMorgan Chase has steadily increased with

larger growth reported in the current year. Sales revenue as well as profit margin and earnings

for the past six years are displayed in Figure 1 (WallStreetZen, n.d.).

Figure 1. Revenue History for JPMorgan Chase

Five Year Projections

Taking into consideration that there is no service charge for the mobile cash deposit

system the following five year projections will be split into two separate categories that

examines user adoption rates and operational savings. The numbers regarding adoption rate are

based on the current amount of active app users which is 67 million (JPMorgan Chase & Co.,

2024) and the targeted level of engagement which was listed in Product Objectives as .25%. In

reference to operational savings the math is calculated based on a study that examined the

costs of in-person deposits compared to mobile deposits. The study concluded that the average

deposit costs $4.25 while that same deposit done on a mobile device only costs $0.10-a savings

of $4.15 per deposit (Stewart, 2013). The data is presented in the following two charts.

Updated User Adoption Chart (Based on 67M Users)

Year % of Total Mobile Users Number of Users (67M base) YoY Growth

Rate

1 0.25% 167,500 —

2 0.60% 402,000 +140%

3 1.20% 804,000 +100%

4 2.00% 1,340,000 +67%

5 3.20% 2,144,000 +60%

Updated Operational Savings Chart

Assuming 10 deposits per user per month, 120 deposits per user per year, and $4.15 saved per

deposit

Year Users Deposits/User/Yr Total Deposits Savings/Deposit Total Savings

1 167,500 120 20,100,000 $4.15 $83,415,000

2 402,000 120 48,240,000 $4.15 $200,196,000

3 804,000 120 96,480,000 $4.15 $400,392,000

4 1,340,000 120 160,800,000 $4.15 $667,320,000

5 2,144,000 120 257,280,000 $4.15 $1,068,312,000

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