JPMorgan Chase has made an equity investment of an undisclosed size in InvestCloud, a startup that provides cloud-based software to the securities industry.

The partnership will allow the bank to accelerate the development of digital capabilities for individual investors at the JPMorgan and Chase franchises and expedite the introduction of online investing capabilities, it said in a Tuesday news release.

The announcement comes as JPMorgan has been investing heavily in a digital overhaul. This year it has launched a redesign of its website, opened new digital headquarters in New York City with a Silicon Valley feel and started a fintech accelerator in which it invites startups to become "residents," with access to the bank's facilities, systems and expertise.

"Across the wealth spectrum, our clients are increasingly engaging with us digitally," Mary Callahan Erdoes, CEO of asset management for JPMorgan Chase, said in the release. "We have been managing wealth for more than 200 years. Pairing these new technological capabilities with our trusted guidance will help our clients achieve their long-term financial goals with flexibility in how they interact with us and our advisors."

InvestCloud, based in Los Angeles, will bring "easy-to-use dashboards, additional mobile functionalities, and seamless account opening" to JPMorgan's wealth management clients while the bank introduces digital features to enhance interactions with advisers and further personalize the integration of its market insights, beginning in 2017.

JPMorgan follows UBS, which made a similar move in May when it took an equity stake in SigFig, as part of a partnership wherein SigFig develops technology and investment tools for the Swiss bank. Also this year, Royal Bank of Canada partnered with FutureAdvisor to integrate digital advice into its wealth management offerings. Wells Fargo has said it will pilot a digital advice platform early next year.