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JPMorgan Chase & Co. JPM is adopting a product-operating model to compete with smaller, more agile financial services providers.

Gill Haus, Chase's Chief Information Officer of Consumer and Community Banking (CCB), discussed this transition and post-pandemic trends with Benzinga. Heres an edited version of the conversation that transpired.BZ: What motivates you?

Haus: We impact the lives of millions of Americans who may own a home, are buying their first car, using a credit card, depositing money, and traveling the world. It's rewarding to bring solutions to the market that our customers use. Using those exact solutions my team is building is even more rewarding. That joy and energy led me to pursue technology in the first place.Being passionate about technology, to me, is cool.

I chuckle when people say, "You do all these cool things like wearing jeans and Chuck Taylor, playing video games, and coding. How did you get so cool?" I have to remind them that this wasn't the definition of cool at least when I was in high school. Bringing together disparate ideas and creating technological solutions to complex problems is truly exciting.How has working in a large financial services firm, as well as startups, shaped your approach?

In larger companies, you gain a deep understanding of the industry and why aligning with business goals and outcomes is essential. It's not solely about the technology; it's about integrating complex systems that may be beyond the reach of smaller organizations due to their scale and history. In contrast, you learn to be resourceful and budget-conscious at startups. At JPMorgan Chase, I believe you can have the best of both worlds being a large organization while seamlessly integrating modern technologies, from leveraging the public cloud to harnessing the potential of AI, all while being mindful of budget constraints.What changes were made in the organization, and how do these changes contribute to innovation?

We've undergone a significant transformation, reshaping our organizational structure around products. We often refer to this as our "product architecture," which may also be known as our "product operating model." In this model, each of our products takes center stage, with dedicated ownership from a product leader, a design leader, a tech leader, and a data leader. Each product has a unique roadmap. Our leaders enjoy autonomy over their budgets, fostering swift decision-making and efficient cross-team communication.How do you better align messaging within the organization?

Whenever possible, we aim to co-locate our teams. This leads to better alignment in messaging, a deeper understanding of the customer's environment, and a heightened awareness of trends.Does your operational model mirror a startup?

Yes. Additionally, we'll work with or acquire startups to stay at the forefront of our industry.What is a key strategy your team employs to ensure high-quality software development?

To overcome common challenges, we must rethink applications and "shift left" in our development. This approach enables faster and higher-quality software delivery and encourages experimentation.What are some key focus areas in your strategy?

We're implementing automation testing to empower our teams to quicken deliveries, experimentation, and rollback.Having real-time, high-quality data allows us to craft highly personalized customer experiences. We possess valuable insights about our customers due to their various interactions with us, including home loans, auto loans, credit cards, and direct deposits. We are also a significant player in the travel industry here in the U.S. By leveraging this data, we can offer tailored experiences. Whether a customer visits a branch, calls us, or uses our mobile app or web application, they should encounter the same level of service. Achieving this consistency hinges on having unified omnichannel data.What does "quad" mean?

Ensuring customer retention is paramount, and this is where our product architecture, or what we refer to as the "quad" (representing product, design, data, and tech), comes into play. Consider our account opening product. We have a single team dedicated to delivering a seamless account opening experience. They continually focus on metrics, customer needs, security, and reducing friction so customers can sign up for an account within minutes.How does your organization approach adaptability in the face of evolving customer needs?

Scaling for myself and my colleagues would be impossible if we had to make every decision as things came our way. This is one of the reasons we operate in an agile, product-centric fashion. Depending on the size and scale, decisions will always need to be elevated. In many cases, our experts and professionals who lead the individual products are empowered to make decisions because they remain closely connected to the market and can better observe ongoing changes. We are more agile because our leaders can adjust their roadmaps and strategies every few weeks, ensuring they stay up-to-date and ahead of evolving needs. Another challenge we face, which is why I mentioned data and our efforts to automate and improve our testing processes, is the need to experiment and move swiftly to determine what works. Experimentation is a key focus, and we aim to increase it, helping us gain insights into what is and isn't working quickly.What excites you about 2024?

What truly excites me is witnessing the tangible benefits of our product-driven approach. We see our teams functioning with a product-centric mindset, and it's invigorating to observe the talent we're bringing in operating autonomously without us imposing strict directives. You can sense the momentum building as we launch new products. For instance, we recently introduced "Pay In 4. This feature lets you purchase using your debit card and later pay in installments. This is just the tip of the iceberg regarding what we can rapidly roll out due to our operational model. What gets me enthusiastic is the anticipation of a wealth of personalized new features. Our application continues to modernize, maintaining its position as one of the fastest apps on the market. In my opinion, its one of the most aesthetically pleasing. We operate in a way that assures me we'll deliver incredible innovations in 2024.

Related: Cathie Wood's Bold Predictions About Bitcoin ETF, TESLA, & AI! | The Raz Report

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Trapped journalists rescued after mob sets fire to Bangladesh newspaper offices

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Trapped journalists rescued after mob sets fire to Bangladesh newspaper offices

Protesters have stormed the headquarters of two major newspapers in Bangladesh, amid widespread unrest following the death of a political activist. 

A mob set fire to the offices of the Bengali-language Prothom Alo daily newspaper and the English-language Daily Star in the capital Dhaka, leaving journalists and other staff stuck inside.

The Bengali-language Prothom Alo daily  was one of the two newspapers that were targeted. Pic: AP.
Image:
The Bengali-language Prothom Alo daily was one of the two newspapers that were targeted. Pic: AP.

One of the Daily Star’s journalists, Zyma Islam, wrote on Facebook: “I can’t breathe anymore. There’s too much smoke.”

Both dailies stopped updating their online editions after the attacks and did not publish broadsheets on Friday.

Troops were deployed to the Star building and firefighters had to rescue the journalists trapped inside. The blaze was brought under control early on Friday.

The latest protests erupted a year after the July Revolution ousted PM Sheikh Hasina. Pic: PA.
Image:
The latest protests erupted a year after the July Revolution ousted PM Sheikh Hasina. Pic: PA.

Political activist Sharif Osman Hadi died in hospital late on Thursday, six days after the youth leader was shot while riding on a rickshaw in Dhaka.

Bangladesh’s interim government urged people on Friday to resist violence as police and paramilitary troops fanned out
across the capital and other cities following the protests overnight. They have sparked concerns of fresh unrest ahead of national elections, which Mr Hadi had been due to stand in.

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He was a prominent activist in the political uprising last year that forced the then Prime Minister Sheikh Hasina to flee the country. Mr Hadi spent six days on life support in a hospital in Singapore before he succumbed to his injuries.

Mr Hadi died a week after he was shot by a man on a motorbike. Pic: PA.
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Mr Hadi died a week after he was shot by a man on a motorbike. Pic: PA.

Hundreds of protesters took to the streets following news of Mr Hadi’s death on Thursday night, where they rallied at Shahbagh Square near the Dhaka University campus, according to media reports.

A group of demonstrators gathered outside the head office of the Muslim-majority country’s leading Bengali-language Prothom Alo daily, before vandalising the building and setting it on fire.

A few hundred yards away, another group of protesters pushed into the Daily Star offices and set fire to the building. The protesters are believed to have targeted the papers for their alleged links with India and closeness to Bangladesh‘s interim leader, Nobel Peace Prize laureate Muhammad Yunus.

Read more:
Ex-Bangladesh PM Sheikh Hasina sentenced to death
UK MP Tulip Siddiq sentenced by Bangladeshi court

Although calm had returned to much of the ⁠country on Friday morning, protesters carrying national flags and placards
continued demonstrating at Shahbagh Square in Dhaka, chanting slogans and vowing not to return until justice was served.

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Last year’s mass uprising erupted from student protests against a quota system that awarded 30% of government jobs to relatives of veterans.

The July 2024 protest, which resulted in as many as 1,400 deaths according to the United Nations, was dubbed the first “Gen Z” revolution.

Bangladesh’s former prime minister Sheikh Hasina Wazed was forced to resign in August 2024 and fled to India. She was later sentenced to death in absentia.

Sheikh Hasina was sentenced to death in absentia. Pic: AP
Image:
Sheikh Hasina was sentenced to death in absentia. Pic: AP

Dr Yunus was then sworn in as interim leader.

The country’s Islamists and other opponents of Ms Hasida have accused her government for being subservient to India.

Mr Hadi was a fierce critic of Ms Hasina and neighbouring India.

He had planned to run as an independent candidate in a constituency in Dhaka at the next national elections due to be held in February.

Authorities said they had identified the suspects in Mr Hadi’s shooting, and the assassin was also likely to have fled to India. Two men on a motorbike followed Hadi and one opened fire before they fled the scene.

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TikTok faces legal action over moderator cuts

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TikTok faces legal action over moderator cuts

TikTok is being threatened with legal action over cuts to its UK online safety teams.

In August, the social media company announced more than 400 workers would lose their jobs, with AI replacing some of the workers and other jobs being rehired abroad.

TikTok is being accused of threatening those safety workers with redundancy days before they were due to vote on forming a union.

Read more: TikTok moderators warn users may be at risk

Now, two moderators have sent a legal letter to TikTok laying out the terms of a potential legal case on grounds of unlawful detriment and automatic unfair dismissal.

Unlawful detriment is when an employer treats a worker unfairly because they used a protected employment right, for example, being a union representative, asking for flexible working or whistleblowing about the company.

“In June, TikTok said it was going to hire hundreds more content moderators, then two months later, they fired everyone,” said Stella Caram, head of legal at Foxglove, a non-profit supporting the moderators.

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“What changed? Workers exercised their legal right to try to form a trade union. This is obvious, blatant and unlawful union-busting,” she said.

Moderators gathered to protest the redundancies in London
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Moderators gathered to protest the redundancies in London

TikTok has been given one month to respond to the legal claim.

A TikTok spokesperson said: “We once again strongly reject this baseless claim.

“These changes were part of a wider global reorganisation, as we evolve our global operating model for Trust and Safety with the benefit of technological advancements to continue maximising safety for our users.”

As well as Foxglove, the two moderators launching the case are working with the United Tech & Allied Workers (UTAW), part of the Communication Workers’ Union, and law firm Leigh Day.


TikTok safety fears as hundreds of moderators leave company

In exclusive interviews last month, three whistleblowers told Sky News the cuts would put UK users at risk, a claim repeated by Julio Miguel Franco, one of the moderators behind the legal action.

“TikTok needs to tell the truth,” he said.

“When it says AI can do our job of keeping people safe on TikTok, it knows that’s rubbish.

“Instead, they want to steal our jobs and send them to other countries where they can pay people less and treat them worse. The end result is TikTok becomes less safe for everyone.”

Read more on social media:
Online sleuths and fake news: The world of missing people
Parents of sextortion victim who took his own life sue Meta

Internal documents seen by Sky News show that TikTok planned to keep its human moderators in London for at least the rest of 2025.

The documents lay out the increasing need for dedicated moderators because of the growing volume and complexity of moderation.

TikTok’s head of governance, Ali Law, also told MPs in February that “human moderators … have to use their nuance, skills and training” to be able to moderate hateful behaviour, misinformation and misleading information.

Dame Chi Onwurah speaks at the House of Commons. File pic: Reuters
Image:
Dame Chi Onwurah speaks at the House of Commons. File pic: Reuters

After a series of letters between TikTok and MPs, Dame Chi Onwurah, chair of the science and technology select committee, said she was “deeply” concerned about the cuts.

“There is a real risk to the lives of TikTok users,” she said.


Is TikTok improving safety with AI?

Last month, in an exclusive sitdown with Sky News, however, Mr Law said user safety would not be compromised.

“We set a high benchmark when it comes to rolling out new moderation technology.

“In particular, we make sure that we satisfy ourselves that the output of existing moderation processes is either matched or exceeded by anything that we’re doing on a new basis.

“We also make sure the changes are introduced on a gradual basis with human oversight so that if there isn’t a level of delivery in line with what we expect, we can address that.”

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Australia plans gun buyback scheme in response to Bondi Beach killings

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Australia plans gun buyback scheme in response to Bondi Beach killings

Australia is set to launch a national gun buyback scheme in response to the Bondi Beach terrorist shootings.

Fifteen people were killed and dozens wounded on Sunday at the Sydney beach after two gunmen opened fire at people celebrating Hanukkah, the Jewish festival of lights.

In the aftermath of the shooting, which authorities say appears to have been inspired by the Islamic State, patrols and policing across the country have been ramped up in an effort to prevent further violence.

Both the federal government and the state government of New South Wales, where Sydney is located, have pledged reforms, including tightening gun control laws, to prevent the threat of further violence in a nation with an estimated four million firearms.

Prime Minister Anthony Albanese has said the government would also strengthen hate laws. Announcing the gun buyback scheme, he cited the response to a previous Australian mass shooting – when a lone gunman killed 35 people in Tasmania’s Port Arthur in 1996.

“Australia’s gun laws were last substantially reformed in the wake of the Port Arthur tragedy,” Mr Albanese said on Friday. “The terrible events at Bondi show we need to get more guns off our streets.”

Surfers and swimmers hold a tribute at Bondi Beach on 19 December. Pic: AP
Image:
Surfers and swimmers hold a tribute at Bondi Beach on 19 December. Pic: AP

On Friday, Australia’s Jewish community gathered at Bondi Beach for prayers, while hundreds of swimmers and surfers made a huge circle in the sea to honour the victims.

“Over the past two years, there’s been a lot of people who have been questioning whether we’re still welcome here in Australia because we saw people calling for our death on the streets on a weekly basis,” Rabbi Yosef Eichenblatt from Sydney’s Central Synagogue told ABC News, after attending the paddle-out tribute.

Funerals for the victims also continued today, with Boris and Sofia Gurman, a couple killed after attempting to stop one of the gunmen, being laid to rest.


‘All Jewish hearts are broken’

Meanwhile, Ahmed al Ahmed, the hero who wrestled a gun from one of the alleged gunmen, was handed a cheque for more than A$2.5m (£1.23m) from an online fundraiser.

Read more from Sky News:
Democrats release more Epstein photos

‘All Jewish hearts are broken’ says UK Chief Rabbi on Bondi visit

Floral tribute at Bondi Beach on 19 December. Pic: AP
Image:
Floral tribute at Bondi Beach on 19 December. Pic: AP

One of the Bondi terrorists – Sajid Akram, 50, who was killed at the scene – held a firearm licence and had six guns registered.

If a man in Sydney’s suburbs needs “six high-powered rifles and is able to get them under existing licensing schemes, then there’s something wrong,” Mr Albanese said.

He said the government would work with states to target surplus, newly banned and illegal firearms, adding that the costs would be shared between the federal and state governments.

New South Wales Premier Chris Minns announced on Friday the state government would be recalled next week to enact the “toughest gun law reforms in the country”.


Gunmen ‘must never have had love’

Changes would include limiting firearms to four per person, tightening licensing requirements and restricting access to high-risk weapons and components.

Following the 1996 Port Arthur massacre, Australia secured the surrender of about 640,000 prohibited firearms nationwide. The total cost of compensation to owners was about A$304m (£150m).

Mr Albanese has faced pressure from critics who say his centre-left government has not done enough to deal with a surge in antisemitism since the start of the war in Gaza.

The government said it had consistently called out antisemitism over the last two years and passed legislation to criminalise hate speech.

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