J.P. Morgan Treasury Services Sees Expense and Risk Management Benefits From Commercial Cards
London - As companies look to maximise efficiencies as the economy slows, J.P. Morgan’s Treasury Services business is helping its clients improve visibility on their expenses with commercial cards. J.P. Morgan clients are offered card programs in over 45 counties worldwide.
J.P. Morgan Treasury Services issues commercial cards in Europe, Canada and the U.S., and provides clients detailed reports to consolidate and analyse their spending. This is delivered via a market-leading web-based management information tool. In addition to spending analysis, the data enables clients to negotiate better pricing with their vendors.
“This level of detail is a powerful tool, especially in the current economic environment,” said Alan Koenigsberg, Product Executive, International Commercial Cards at J.P. Morgan. “Companies are looking for every opportunity to increase visibility on expenses and to reduce costs. Current market conditions are driving them to take a fresh look at their spending and how to be more efficient.”
In addition, the Single Euro Payments Area (SEPA) across the Eurozone countries is driving further efficiencies in the European payments market, including cards, which will help companies save money.
Koenigsberg said, “The market will benefit from the combination of the growth of cards across Europe plus the introduction of SEPA, which ultimately will harmonise the payment system across the Eurozone, including debit cards and payments. The fewer payment systems there are, the greater the efficiencies in the market.”
Outside of the U.S., Canada and Europe, J.P. Morgan issues commercial cards through a “best in class” alliance bank network. This network includes delivering card solutions in Asia, the Middle East, Africa and Latin America.
About J.P. Morgan Treasury Services
The Treasury Services business of J.P. Morgan is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and a presence in 36 countries, J.P. Morgan Treasury Services is the world’s largest provider 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 & Co. 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, Chase, and WaMu brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.