Justin Nelson Dishes on the Role of Technology in the Future of Finance

Financial technology, or fintech, is on the rise. In fact, fintech is worth over $103 billion globally. From automating bill payments to streamlining investment decisions, fintech is a growing area of finance that holds a lot of promise for both financial professionals and their clients.

Justin Nelson, the Managing Director and Head of the Asset Management and Financial Principals Coverage Team for J.P. Morgan Private Bank in Connecticut, and his team are at the forefront of this evolution. With over $15 billion in assets under his team’s management, Nelson understands the transformative role technology plays in shaping the future of finance, from operations to client experience to talent acquisition. He shares why technology is so crucial today and how it will play a big role in financial management going forward.

Justin Nelson on the Rise of Tech-Driven Finance

J.P. Morgan is an established bank with a long history, but it believes in investing in the right technologies to keep up with the competition. “We have tens of thousands of employees on our technology team. It’s more like a technology company than a bank,” Justin Nelson says.

Thanks to the proliferation of Big Data—and savvy employees to manage it—banks can operate more efficiently by analyzing vast amounts of data and delivering personalized experiences to their clients. From private equity to hedge funds, Nelson’s team leverages advanced technology to guide clients through complex investments, including real estate and venture capital.

While professionals are rightfully cautious of technologies like artificial intelligence (AI), in the right hands, they have the power to save time, reduce costs, and improve outcomes. Integrating data analytics, artificial intelligence, and machine learning creates innovative, tailored solutions that make strategic wealth planning possible.

Of course, technology can’t replace the human touch, which is why Justin Nelson oversees a team of 20 finance experts to manage billions of dollars. They leverage certain technologies not to replace human work but to find better insights faster. And everyone benefits from that.

Talent Wars in a Tech-Heavy Industry

It takes a lot of talent to develop fintech tools, so much so that technology’s growing influence in finance is reshaping the competition for talent. “There’s always going to be a shortage of coders,” Justin Nelson says. Traditional banks are also increasingly competing with private equity firms and startups for finance professionals, creating a huge skills gap in the industry.

For traditional banks to stand a chance, they have to understand what their employees actually want and create a workplace culture that resonates with their expectations. Then, and only then, will these traditional institutions attract coders and other technical professionals away from the glamor of the fintech startup world. “If you don’t spend time with your team and be flexible about what’s important to them, you’ll lose them,” Nelson adds.

Bridging the Gap Between Technology and Human Skill

While technology is reshaping the industry, Nelson also values the core skills and traditional experience of starting a career at a bank. “A lot of people will start at a bank to get core skills – I don’t think there is a replacement for that experience,” he explains.

This foundation equips professionals with the analytical and strategic abilities necessary to thrive in a world increasingly influenced by private equity and startups. Adopting cutting-edge technology is essential for staying competitive, but banks provide the crucial fundamentals defining long-term career success.

Embracing the Future of Finance With Technology

Technology drives significant change in finance, but the industry has to embrace all of the changes that come with it, from hiring practices to professional development. While some executives fear technology, Justin Nelson welcomes it. In the right hands, fintech can improve client results while reducing bureaucracy. According to Nelson, what’s required at this stage is leaders who are prepared to be flexible and show humility during this moment of transformation.