$200M savings in the air vents? JPMorgan’s banks on sensor data

Consider for a moment that the future of the bank branch may lie in the HVAC system. As the industry hems and haws over the role of brick-and-mortar offices in the age of mobile banking, JPMorgan Chase — the nation’s largest bank by assets — is making significant investments to retrofit its branch network via sensors and automation.

The company recently announced plans to install high-tech energy sensors across its network, with the goal of slashing energy consumption — and ultimately saving $200 million in utility costs. Through a partnership with GE, JPMorgan plans to install the sensors in heating, air conditioning and irrigation systems in nearly 85 percent of its 5,300 branches nationwide.

Author: Kristin Broughton


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