Jack Gibson, Managing Director at J.P. Morgan Payments, shares his insights on building secure payment infrastructure. He discusses the launch of the Payments Developer Portal, emphasizing the engineering challenges of creating financial APIs with zero margin for error. The conversation also dives into the complexities of compliance and legacy systems, the importance of consistent development environments, and the role of emerging technologies like generative AI in enhancing customer experience. Gibson highlights fostering a culture of innovation as crucial for modern engineering teams.
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Quick takeaways
JPMorgan Payments has launched its Payments Developer Portal to empower developers in managing payment APIs with a focus on secure transactions.
The engineering team faces significant challenges in modernizing technology while ensuring compatibility with legacy systems and maintaining service reliability.
Deep dives
JPMorgan Payments and the Developer Portal
JPMorgan Payments processes an impressive $10 trillion in daily transactions and recently introduced its Payments Developer Portal (PDP). This portal provides developers with the tools needed to build and test payment APIs, allowing them to manage and send payments on their own platforms. The development of financial APIs at a global scale poses significant engineering challenges, particularly due to the necessity for precision and reliability in processing financial data. With operations running continuously across various international markets, the company emphasizes the importance of a robust infrastructure that supports real-time transactions without errors.
Engineering Challenges and Legacy Systems
Engineers at JPMorgan face the complex task of modernizing technology while maintaining compatibility with legacy systems that have been in place for decades. Changes to the infrastructure must be carefully managed to avoid disrupting services that thousands of clients rely on daily. The challenge is likened to 'changing the wings of a plane while it’s flying,' highlighting the difficulty of evolving technology without significant downtime. As the bank embraces modern solutions, it strives to integrate new technologies without compromising security and service reliability.
Balancing Innovation with Security and Privacy
Developers transitioning from non-financial sectors may find the banking industry's focus on security and privacy to be a significant adjustment. At JPMorgan, robust vetting processes for software and strict data management protocols are essential to protect customer information. This commitment to privacy impacts how engineers work, as they must navigate various restrictions while striving to innovate. The organization also engages in open-source initiatives and partnerships to keep pace with technology trends, demonstrating a balance between security mandates and a push for innovation.
The Future of Technology at JPMorgan
Looking ahead, JPMorgan aims to leverage generative AI to enhance customer experiences and improve operational efficiencies. Stability and resilience of their platforms remain a top priority as they continue the modernization journey, transitioning to increasingly cloud-based infrastructures. The company acknowledges the importance of adapting to rapid technological advancements and regulatory changes that impact its global operations. By prioritizing these initiatives, JPMorgan seeks to remain competitive in the financial services sector while effectively meeting the evolving needs of its clients.
J. P. Morgan Payments is one of the leaders in payments processing with a staggering $10 trillion in payments handled daily. The company recently released its Payments Developer Portal, or PDP, which serves as a gateway for developers to build and test payment APIs, and accept, manage, and send payments on their own platforms. Developing financial APIs at a global scale presents unique engineering challenges, in large part because there is no margin for error.
Jack Gibson is a Managing Director and Head of Payments Engineering, Architecture and APIs at J. P. Morgan Payments. He joins the podcast with Sean Falconer to explore the design and engineering behind the company’s payments API offering.
Sean’s been an academic, startup founder, and Googler. He has published works covering a wide range of topics from information visualization to quantum computing. Currently, Sean is Head of Marketing and Developer Relations at Skyflow and host of the podcast Partially Redacted, a podcast about privacy and security engineering. You can connect with Sean on Twitter @seanfalconer.