Global Fintech Leader Taps into Liberal Arts Creativity in Westerville, Ohio
FOR IMMEDIATE RELEASE
Sept. 21, 2018
Westerville, OH—Otterbein University is leading an effort in the heart of Westerville to unite innovative research and development with a liberal arts approach to problem solving and education. An unprecedented partnership between Otterbein University, JPMorgan Chase, the City of Westerville and JobsOhio will establish a financial technology (fintech) research and development (R&D) arm of JPMorgan Chase to The Point at Otterbein, located at 60 Collegeview Road, Westerville. The partnership was announced at a joint press conference on Sept. 21.
JPMorgan Chase will deploy three on-site innovation spaces at The Point at Otterbein for project teams comprised of JPMorgan Chase experts and Otterbein students from a variety of disciplines to collaborate on fintech research and development. These innovation spaces will create an environment for diverse student experiences and innovative, out-of-the-box thinking.
Otterbein has been a key source of talent for JPMorgan Chase with more than 250 alumni currently working with the company in the Columbus Region.
“Our partnership with JPMorgan Chase is an example of the Otterbein model for a 21st century liberal arts education. Our town-gown relationship with Westerville is now stronger with the addition of JPMorgan Chase as a leading business partner at The Point,” said Otterbein President John Comerford. “This partnership will allow our students to have R&D experience and increase their critical thinking to new heights.”
The partnership will create a unique, forward-thinking educational opportunity for students, as well as 75-100 full-time jobs. Twenty percent of each project team working at The Point will be made up of Otterbein students from all disciplines. Projects will cover fintech research and development topics, including robotics through Otterbein’s automation lab in systems engineering, software development, testing and support, design, user interface and more.
The fintech innovation spaces will be assisted by a $2.9 million JobsOhio R&D Center Grant, which facilitates the creation of corporate R&D centers in Ohio to support the development and commercialization of emerging technologies and products.
“Our firm is incredibly focused on innovation — in the solutions we offer to our customers, the culture we create for our employees, and the focus we bring to our communities,” said Corrine Burger, Columbus location leader and chief control officer for JPMorgan Chase’s Consumer and Community Bank. “Our partnership with The Point at Otterbein is a unique opportunity to think differently and work with the next generation of innovators to solve real-world challenges within our community and beyond.”
“This partnership between JPMorgan Chase and Otterbein University establishes a financial technology innovation space unlike any in the world, and it is happening in Westerville, Ohio,” said Valentina Isakina, JobsOhio managing director for financial services. “JPMorgan Chase’s choice of location for this unprecedented model of R&D and learning demonstrates the world-class quality of talent, collaboration and innovation potential ready to be tapped into in Ohio."
The partnership also includes the City of Westerville, which has worked with The Point on strategic initiatives for economic development. JPMorgan Chase is the largest employer in the City of Westerville and one of the largest private employers in the Columbus Region.
“Westerville set out to redefine how cities, businesses and higher learning work together, and this fintech partnership is largely the realization of that idea,” said David Collinsworth, Westerville City Manager. “This was a key part of our economic development strategy and proves that cities can go a step further and start the conversation when it comes to fully integrating the power of business with workforce and students. As we pursued this strategy, JPMorgan Chase and Otterbein were collaborative and nimble. We expect this to be a new model for other town-gown communities.”
Otterbein students will learn from professionals at JPMorgan Chase, which has committed to providing educational opportunities both in the classroom and in their labs. Currently, in the first semester under this partnership, three JPMorgan Chase employees are teaching in four Otterbein courses this fall.
Otterbein will also benefit from JPMorgan Chase representatives serving on the university’s computer science advisory board. The board works with Otterbein to provide needed professional development forums to support fintech in the Columbus Region and with Otterbein’s youth programs to support the growth of fintech youth programs, including Girls Who Code.
Through this unique partnership, Otterbein, JPMorgan Chase, the City of Westerville and JobsOhio will each harness the others’ strengths and resources to drive innovation and work together to create better digital experiences for our customers of today and tomorrow while educating and developing the next generation of talented workers
About Otterbein University: Otterbein University is a private university nationally recognized for its intentional blending of liberal arts and professional studies through its renowned Integrative Studies curriculum and its commitments to experiential learning and community engagement. Otterbein is recognized by Colleges of Distinction, with additional Field of Study recognition in business, education, engineering and nursing. Otterbein is a recipient of the 2015 Carnegie Community Service Classification; a finalist for the 2014 President’s Award for Economic Opportunity Community Service; and has been honored With Distinction by the President’s Higher Education Community Service Honor Roll since the list’s inception in 2006. It stands in its category’s top 10 percent in U.S. News & World Report’s guide to “America’s Best Colleges.” It also is recognized in national rankings by Forbes and The Wall Street Journal. Otterbein offers more than 70 undergraduate majors; six master’s programs; and a doctorate in nursing practice (DNP). Its picturesque campus is perfectly situated in Westerville, Ohio, America’s fifth friendliest town (Forbes), just minutes from Columbus, the 14th largest city in the country. Otterbein’s commitment to opportunity started with its founding in 1847 as one of the nation’s first universities to welcome women and persons of color to its community of teachers and learners, which now numbers 2,400 undergraduate and 500 graduate students. To learn more about Otterbein, visit www.otterbein.edu.
About JPMorgan Chase: JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
About Westerville: The City of Westerville, Ohio, founded in 1858, is home to more than 38,000 residents, making it one of the largest suburban communities in the state. Located in the northeast corner of Ohio's fastest growing region (northeast Franklin County and southern Delaware County), Westerville is a leader in job creation and widely known for its nationally recognized parks system and award-winning city services. Situated just 10 miles from the airport and the state capital of Columbus, Westerville is also within 500 miles of more than half the United States and Canadian population.
About JobsOhio: JobsOhio is a private, nonprofit corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention and expansion efforts. JobsOhio works with six regional partners across Ohio: Appalachian Partnership for Economic Growth, Columbus 2020, Dayton Development Coalition, REDI Cincinnati, Regional Growth Partnership and Team NEO. Learn more at www.jobs-ohio.com.