Chase hires ex-HSBC exec Jeremy Balkin to lead wholesale payments innovation

JPMorgan Chase has hired former HSBC executive Jeremy Balkin as head of fintech and innovation for wholesale payments.

Balkin will also be involved in deciding to invest or partner with companies that can further JPMorgan’s growth strategy, according to Reuters. In the new role Balkin will be based in New York.

During his six-year tenure at HSBC, Balkin led the U.S. group’s innovation and strategic digital partnerships. His team was tasked with improving the customer digital experience and identifying new products and services. One notable project Balkin oversaw was the deployment of Softbank’s humanoid robot Pepper at HSBC’s Fifth Avenue branch in Manhattan in 2018.

Before deploying Pepper, HSBC conducted a three-month study to evaluate customer and teller feedback. "What we found was 73% of interactions were … what we describe as binary or generic interaction," such as asking about ATM locations, Balkin said in an earlier interview. "Pepper was designed … to be able to have every interaction ultimately ending with a human interaction."