Tech eyes to keep tabs when bankers return to work

Firms now have to be mindful about how space is being used & when it is being used

Reservation systems for seats. Algorithms that say whether a location is crowded or not. Cameras to show what's happening in real-time. Trackers that let others know you are there.

Technology that has swept the world for convenience, curiosity, and accountability is arriving at workstations of US bank employees, as they prepare to return to offices in coming months because of the pandemic easing, industry sources and outside vendors said.

Banks, including

JPMorgan Chase & Co, Goldman Sachs Group Inc, Citigroup, Deutsche Bank AG and HSBC Holdings PLC plan to have workers commute to buildings in New York and other US cities as soon as this month, after more than a year of largely work-fromhome situations.

But not everyone can return at once: banks will have to extend practices like those used for small teams of traders during the pandemic. Shifting rotations of people will pass through giant buildings on different days, without clustering in the same areas on the same floors, to avoid spreading

Covid-19.

Some of the banks are implementing systems where employees will book "hot seats" on particular days and be monitored while they are sitting at them, sources said.

In some buildings, that could mean cameras that monitor a room's occupancy level and even sensors that tell building management whether someone is sitting at a desk.

"That feels a little personal," one bank employee said about desk sensors.

The comment reflects a sentiment that some banks could face as they bring in tech that monitors employees more closely after an unprecedented period of working from afar: they are okay booking dinner reservations online, sharing locations with friends, live-streaming videos or wearing activity trackers for their own health, but not necessarily okay with having their employers knowing when they are seated at a desk.

Employees will need to get over these hang-ups because the technology is necessary for safety and saves companies money, industry sources and consultants said.

"We have to be more mindful about how space is being used and when it is being used," said Neil Murray, CEO of corporate solutions at JLL, which manages offices for JPMorgan, Morgan Stanley, Goldman Sachs and others.

Staff returning to JPMorgan's Manhattan headquarters will soon have a new app that uses algorithms and artificial intelligence to book seats.

It is part of an "optimum rotation" plan, Daniel Pinto, JPMorgan's co-president and chief operating officer said recently. That means getting the right people together on the right days for in-office collaboration.

HSBC and Deutsche also plan to launch reservation apps and online systems. While all three banks are still working out the details, apps like these can use card-swipes at security turnstiles to identify patterns and suggest when someone should book a desk to meet teammates.