Key Takeaways
- JPMorgan is the largest bank in the U.S, with $3.46 trillion in assets.
- Earlier this year, JPMorgan finished constructing a new $3 billion, 60-story office space at 270 Park Avenue, New York.
- The bank is now requiring employees to scan their fingerprints or eyes to gain access to the building, instead of using a traditional ID badge.
JPMorgan Chase, the biggest bank in the U.S. with $3.46 trillion in assets, is now requiring employees to share biometric data if they want to gain access to the investment bank’s newly constructed New York City headquarters.
According to The Financial Times, JPMorgan has emailed staffers already working at the new Manhattan building to notify them that biometric access is “required” instead of voluntary. Biometric authentication means that employees have to scan their fingerprints or eyes at the security checkpoint in the lobby instead of swiping their ID badges.
Some JPMorgan staffers have already been working at the new “supertall” tower, located at 270 Park Avenue in New York, since August, when construction was completed. The 60-story, 2.5 million-square-foot building reportedly cost $3 billion to build and is expected to function as the main headquarters for up to 14,000 JPMorgan employees by the end of the year. As of January, JPMorgan employed over 24,000 workers in New York City.
JPMorgan isn’t the first company to plan to use biometric data as an entry point. In August, Midtown apparel company Isaac Morris aimed to replace its ID badge entry system with facial recognition, but quickly backtracked after employees voiced privacy concerns.
However, biometric data is considered sensitive personally identifiable information, which could result in harm if compromised or disclosed without authorization in a cyberattack. JPMorgan disclosed in January 2024 that it faces 45 billion hacking attempts per day, leading the bank to employ a substantial tech workforce to counter the threat.
As of March, the bank’s tech workforce numbered 63,000 employees, about 21% of its global headcount.
Biometric registration is still optional for employees who are working in other JPMorgan offices, such as the one in London. JPMorgan has implemented voluntary hand biometrics at its Bank Street office in London, which encrypts an employee’s handprint to allow access into the building, per The Financial Times.
Earlier this year, JPMorgan pulled the plug on hybrid work and told all 300,000 of its global employees it was time to be back in the office full-time, five days a week, starting in March.
The return-to-office push met with some internal opposition, as more than 1,900 workers signed a petition calling on the bank to stick to a hybrid work schedule.
Key Takeaways
- JPMorgan is the largest bank in the U.S, with $3.46 trillion in assets.
- Earlier this year, JPMorgan finished constructing a new $3 billion, 60-story office space at 270 Park Avenue, New York.
- The bank is now requiring employees to scan their fingerprints or eyes to gain access to the building, instead of using a traditional ID badge.
JPMorgan Chase, the biggest bank in the U.S. with $3.46 trillion in assets, is now requiring employees to share biometric data if they want to gain access to the investment bank’s newly constructed New York City headquarters.
According to The Financial Times, JPMorgan has emailed staffers already working at the new Manhattan building to notify them that biometric access is “required” instead of voluntary. Biometric authentication means that employees have to scan their fingerprints or eyes at the security checkpoint in the lobby instead of swiping their ID badges.
Some JPMorgan staffers have already been working at the new “supertall” tower, located at 270 Park Avenue in New York, since August, when construction was completed. The 60-story, 2.5 million-square-foot building reportedly cost $3 billion to build and is expected to function as the main headquarters for up to 14,000 JPMorgan employees by the end of the year. As of January, JPMorgan employed over 24,000 workers in New York City.
