American Banker 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. 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.” 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