US bank JP Morgan has planned a $48 million (£28 million) investment in its Bournemouth technology and operations centre, in order to provide access to “state-of-the-art communications technology” and improve working conditions to attract top tech talent.
The Bournemouth site, which has been open for 28 years, employs more than 4,000 and supports 40 countries and 90 markets around the world. Many of its staff have IT-related roles, with its coders and programmers vital in the processing of more than three million SWIFT transactions and one million payments per day.
The bank says that the £28 million investment will be targeted at improving collaboration technology systems, as well as upgrading physical infrastructure at the centre. JP Morgan, like many banks, increasingly views itself as a technology firm, and believes that attractive working conditions are important as it battles the likes of Google and Facebook for top IT staff.
The new funding builds on the firm's previous $18 million (£10.7 million) investment completed in 2011 to upgrade infrastructure at the site.
"Bournemouth offers access to high quality talent and to facilities that can support our business, not just in London, but around the world," said Jamie Dimon, Chairman and CEO of JPMorgan Chase. "We are proud to be an active member of the Bournemouth community and to be the largest private sector employer in Dorset."
JP Morgan’s large IT estate includes 300,000 desktops, 58,000 servers in 32 data centres, with 26,000 data bases and 7,250 business applications. It also has nearly 30,000 programmers, app developers and other IT employees globally.
The bank recently annoucned that it plans to build three ‘state-of-the-art’ Cyber Security Operations Centers at its regional headquarters in the US to help coordinate responses to growing attack levels.