JPMorgan Chase creates app for small businesses

The new Jot mobile application, from JPMorgan Chase, aims to help small business customers control their finances. The bank hopes the app, available on iPhone and Android, will attract new customers to their Ink from Chase business division, as well as benefiting existing ones.

The app's release comes at a fortuitous time as a survey released this morning by the Small Business and Entrepeneurship Council showed that 78% of small businesses believe that smartphones can save them time. Although there are many similar apps available, JPMorgan Chase believes this one beats them all. Jot allows business owners to track employee expenses in real time, and the employees themselves can categorise expenditure while it is still fresh in their minds.

Richard Quigley, president of Ink from Chase, said:

“Jot was designed with small business owners’ immediate financial needs top of mind. Jot will enhance the finance-savvy business practices of small business owners, allowing for additional time and an improved focus on the passion and sense of accomplishment they have for their businesses.”