Having secured $27m from a consortium of investors including JP Morgan and Linklaters in May, London-headquartered document creation and analysis vendor H4 has successfully completed a pilot with J.P. Morgan’s global custody business and there are plans to roll it out across JP Morgan’s securities services business in the coming months.
Global custody helps clients to invest across the world and JP Morgan says that H4 has helped it to transform the client contract onboarding experience, reuse data contained in documents and build a digital library.
“H4’s technology is transforming the efficiency and data management of our global business.” said Mike Hughes, managing director and head of global custody at J.P. Morgan. “By embedding H4’s technology into the way we work, we increase efficiency, control, data management and most importantly, our team of business and legal professionals can serve our clients in a more efficient manner.”
An important aspect of the efficiency H4 delivers is contract creation efficiency. Hughes continued: “It potentially creates an ecosystem for J.P. Morgan and its clients to negotiate and alter contracts real time in a controlled environment. This technology will allow for efficient collaboration at an important stage of the new client relationship, an additional tool for effective onboarding, all fitting squarely within J.P. Morgan’s Securities Services data-focussed strategy.”
H4 has also been used by the J.P. Morgan team to assist with the capture of data elements from their historical agreements allowing ease of the business line review and the ability to drive analytical reporting at the client and business level.
In May 2020, J.P. Morgan invested in H4 as part of a consortium that included Linklaters, Goldman Sachs and Barclays . H4 was part of J.P. Morgan’s In-Residence Programme, which incubates emerging technology companies to develop production-ready solutions solving for critical wholesale banking problems.
In June Linklaters announced that it had entered a partnership with H4, with global head of finance Paul Lewis commenting: “Our clients are already receiving value from the technology in the production of prospectuses and we are exploring where else we can extend its use so that more clients can benefit from this new and exciting technology.”