Most Powerful Women in Banking: Lori Beer, JPMorgan Chase
Global Chief Information Officer
JPMorgan Chase is the nation’s largest bank, but thanks to Lori Beer’s army of more than 50,000 technologists, it remains competitive with smaller, nimbler fintechs.
In a year marked by extraordinary hardship, Beer’s team automated 10,000 daily customer requests to defer loan payments. In one week, the team built and deployed a bot to process 10,000 loan applications each day and, to cope with higher market volatility and trading volume, managed to support three times the average number of daily transactions.
Beer is in charge of JPMorgan’s technology systems and infrastructure worldwide. She joined the firm in 2014 and became global chief information officer three years later. Under her guidance, JPMorgan has invested more than $30 billion in digital banking, investing advice, trading and cybersecurity, all meant to improve the user experience.
JPMorgan’s accomplishments under Beer include launching the digital investing service You Invest Portfolio, adding mobile platform capabilities, accelerating its artificial intelligence work and becoming the first bank to offer real-time payment capabilities in U.S. dollars, British pounds and euros.
In 2017, Beer and her husband established a scholarship fund for students enrolled in information systems and analytics programs at the University of Cincinnati’s business school. The scholarship gives preference to female students. “I advise young women to be continuous learners by being courageous and taking risks,” Beer said when the scholarship was established.
Beer also advocates for employees with disabilities, as well as those who serve as caregivers for people with disabilities and long-term illnesses. She led the launch of Autism at Work, a hiring program focused on finding neurodiverse talent, which is now five years old.
For the first time, American Banker's Most Powerful Women in Banking celebration is open to the whole financial community. Join us virtually October 6-8 to hear our 2020 honorees' stories and experiences. Register here.