JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity.
The JPMorgan Chase & Co. credit card division provides a diverse range of over 20 unique credit card products, both direct-to-consumers and through co-marketing arrangements with world-wide brands such as Sony, Disney and Starbucks.
In spite of significant recession impacts impacting the entire credit card industry, JPMorgan Chase & Co.’s credit card division is highly competitive. Credit card applications are up, relative to competitors, but application abandon rates were also high.
By understanding and resolving the usability and technical issues driving their high application abandon rate, JPMorgan Chase & Co. could convert more online shoppers into buyers and grow share, even in a down market.
The Siteworx Approach:
Siteworx Web strategy consultants conducted in-depth stakeholder surveys/interviews, a comprehensive technology assessment and thorough usability analysis of www.chasecreditcards.com.
Over 40 stakeholders—from division presidents, to technical practitioners—were interviewed by Siteworx consultants to gain insight into JPMorgan Chase & Co.’s existing governance model and identify opportunities for improvements in the technology used to support the credit card line of business (LOB).
Siteworx identified a number of areas ripe for improvement. Firstly, a number of “home-grown” and commercial-off-the-shelf (COTS) document management and Web analytics tools were being used, but none were optimal solutions for the credit card division’s unique problems. In addition, Siteworx saw significant opportunity to improve the cross-channel customer experience by more tightly-integrating technology solutions across the Web and call center operations.
The Result:
Within just a few months, Siteworx delivered a comprehensive market assessment, technology roadmap and detailed product requirements document (PRD) to the credit card LOB.
Within the market assessment, Siteworx evaluated COTS Web content management (WCM) and Web analytics solutions. The customized technology roadmap provides recommendations for best-of-breed WCM and analytics solutions that will provide a significant strategic advantage while optimizing the governance model within the credit card LOB.