JPMorganChase's LLM Suite Wins American Banker's 2025 Innovation of the Year Award Grand Prize

10 groundbreaking AI, embedded-finance, and payments solutions were all recognized at DIGITAL BANKING 2025; LLM Suite takes top honors

NEW YORK, June 3, 2025 /PRNewswire/ -- American Banker, the leading information resource for banking and financial-services executives, announced JPMorganChase's LLM Suite as the 2025 Innovation of the Year grand prize winner during a live reveal at the annual Innovation of the Year Awards Dinner held at DIGITAL BANKING in Boca Raton, Fla., on June 2.

LLM Suite, the first generative AI platform deployed at scale across a major U.S. bank, is now used by over 200,000 JPMorganChase employees to streamline tasks across legal, sales, and client services. Developed by Chief Analytics Officer Derek Waldron and his team, the LLM Suite acts as an internal AI portal that integrates large language models such as OpenAI's GPT-4 into daily workflows—reducing costs, boosting efficiency, and transforming client experiences. The system allows the bank's employees to analyze contracts, draft presentations, prepare client emails, and automate reporting, all while containing costs through a unique, pay-as-you-use compute model.

"LLM Suite embodies the bold vision and disciplined execution required to harness AI for meaningful business transformation," said Penny Crosman, Executive Editor, Technology at American Banker. "JPMorganChase's approach sets a new standard for large-scale AI adoption in the financial sector, and the impact is clear: thousands of hours saved, smarter workflows, and stronger client engagement."

The Innovation of the Year Awards celebrate the most impactful technologies in banking and financial services. In addition to JPMorganChase's LLM Suite, 9 honorees were recognized for their achievements in AI, payments, embedded finance, cybersecurity, and more. Each project, launched in 2024, demonstrated measurable gains in revenue, operational efficiency, customer acquisition, or market influence.

2025 Innovation of the Year Honorees:

• Generative AI: LLM Suite – JPMorganChase (Overall Winner)
  
  
• AI + Analytics: Truist Client Pulse – Truist
  
  
• Cybersecurity + Fraud: Triangle of Fraud Protection – Western Alliance, Digital Disbursements, ClaimScore
  
  
• Digital + Mobile-First Banking: Under 18 Financial Empowerment – Nubank
  
  
• Embedded Finance: Delivering Embedded Finance to Contract Workers – Starion Bank, Fiserv, Central Payments
  
  
• Open Banking + Open Finance: Citizens Open Banking API – Citizens
  
  
• On-Chain Finance: Citi Token Services – Citi
  
  
• Payments: High-Fidelity ACH – First Internet Bank, Increase
  
  
• Regulation + Compliance + Risk Management: Regulatory Inquiries Compliance Platform Automation – Morgan Stanley
  
  
• Other Innovation: Faster Payments for a Network of Community Banks – United Bankers Bank, Pidgin

"These honorees are shaping the future of digital finance by turning bold ideas into real solutions," said Jeff Mancini, CEO of Arizent, parent company of American Banker. "Their innovations demonstrate the power of collaboration between banks, fintechs, and technology providers—and they're creating a lasting impact across the industry."

The Innovation of the Year Awards Dinner was part of the DIGITAL BANKING conference, taking place June 1–4, 2025, at The Boca Raton. The event brings together senior executives from banks, credit unions, fintechs, and the investment community to explore transformative financial technologies, AI strategies and the future of on-chain finance.

All winning innovations and team profiles are available at americanbanker.com/news/innovation-of-the-year-2025-meet-the-honorees.

About American Banker

American Banker is the essential resource for senior executives in banking and financial services, keeping its members updated on vital developments and focusing on their most important concerns—innovation, transformation and disruption; technology, regulation and reform. Financial industry professionals turn to American Banker every day and throughout the day to stay informed—drilling down on complex issues, keeping up with breaking news and downloading research and data.

About Arizent

Arizent is a business information company that advances professional communities by providing insights and analysis and convening industry leaders. The company uses deep industry expertise and a data-driven platform to deliver its services, which include subscriptions, marketing services, live events, and access to Leaders, a digital content platform featuring livestream and on-demand formats. Arizent connects business communities through leading financial services brands like American Banker, The Bond Buyer, Financial Planning, and National Mortgage News, as well as professional services brands like Accounting Today, Employee Benefit News, and Digital Insurance. For more information, visit www.arizent.com. 

SOURCE Arizent