J.P. Morgan Launches Reference Accounts for Financial Institution Clients
New Offering Enables Financial Institutions to Strengthen Corporate Customer Relationships Through Expanded Global Solution Services
NEW YORK, - J.P. Morgan Treasury Services, a full-service provider of cash management, trade finance and treasury solutions, today announced it now offers in-country and multicurrency reference accounts for financial institution clients. This offering enables financial institutions to support their corporate customers’ needs beyond their core markets by leveraging J.P. Morgan’s global footprint.
Reference accounts are opened by a J.P. Morgan financial institution client to help support the needs of their corporate customers who need account services in a location where their bank does not have operations. The solution enables the financial institution client to offer services to its customers in locations beyond its own footprint and eliminates the need for the corporate client to establish a new banking relationship.
“Financial institution clients are increasingly recognizing the value of leveraging J.P. Morgan’s network to expand offerings to their corporate clients, enabling them to grow their business organically,” explained Christine Doria, Managing Director, J.P. Morgan Treasury Services. “By offering reference accounts, J.P. Morgan is enabling financial institution clients to deliver greater global capabilities to their customers while simplifying operations.”
The benefits to financial institutions of this new reference account offering include:
Broadening of cash and trade products and services coverage to customers regionally, as well as globally
Expansion of global and regional offerings with minimal capital investment
Optimization of cash balances and streamlining of information to aid strategic business decisions and improve overall governance and control
“J.P. Morgan is committed to helping financial institution clients expand their business by delivering solutions that enables them to be competitive in the global marketplace,” stated Christine Doria. “The firm is leveraging the considerable investments it has been making to further expand its reach, capabilities and consistency of service delivery to clients doing business around the world.”
About J.P. Morgan Treasury Services
J.P. Morgan’s Treasury Services business is a full-service provider of innovative cash management, trade, liquidity, commercial card and escrow services -- specifically developed to meet the challenges treasury professionals face today. More than 135,000 corporations, financial institutions, governments and municipalities in over 180 countries and territories entrust their business to J.P. Morgan. J.P. Morgan Treasury Services is one of the world’s largest providers of treasury management services and a division of JPMorgan Chase Bank, N.A., member FDIC. More information can be found at www.jpmorgan.com/ts.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about the firm is available at http://www.jpmorganchase.com.
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