JPMorgan Chase continues to grow its wealth management business, prioritizing the ease of money movement. 

“In 2026, we intend to make it much easier for clients to automatically move money from their regular checking account to higher yielding broker products and vice versa so they can maximize yield while managing day to day cash flow,” Chief Executive Jamie Dimon said in his April 6 annual letter to shareholders.

The bank is working on its Smart Cash tool to accomplish that, Dimon said. Using AI, the tool will predict cash flow needs and automate budgeting. 

Smart Cash is not live, Dimon said during today’s first-quarter earnings call, noting, “this is really early stages.”

It’s targeted at a very small subset of the client base, particularly clients with investments,” Jeremy Barnum, chief financial officer, said during the earnings call. 

AI at Chase

JPMorgan has allocated nearly $2 billion for AI this year, Matthew McCown, executive director of the payments data and analytics team at JPMorgan Payments, said last month at the FinAi Banking Summit in Denver. 

Top uses of AI within JPMorgan include: 

• Fraud detection; 

• KYC; 

• Software development; and 

• Sandboxing. 

Q1 results

In its first quarter, JPMorgan reported: 

• Revenue increased 10% year over year to $50.5 billion; 

• Noninterest expenses increased 14% YoY to $26.9 billion; and 

• Technology, communications and equipment expenses rose 17% YoY to $3 billion. 

Shares of JPMorgan Chase [NYSE: JPM] were down 0.79% to $311.20 at market close today. It has a market capitalization of $839.3 billion.   

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