JPMorgan Treasury Services Goes Live With New Global Payments Operating System in Europe
Development is part of previously announced $1 billion expansion plan
London - J.P. Morgan’s Treasury Services business today announced it has gone live with the first phase of enhancements to its international mass payments operating platform.
The enhancements will deliver immediate benefits to clients using the bank’s Global ACH service, including later cut-off times for receipt of payment instructions and intelligent routing which automatically selects the most expeditious route if a cut-off is missed.
Global ACH provides a single gateway for high volume multicurrency payments and collection services across multiple regions. Clients will also now have access to full SEPA credit and debit services from J.P. Morgan accounts domiciled in Belgium, France, Germany, Ireland, Italy, Netherlands, Spain, Switzerland and the UK.
Alex Caviezel, head of J.P. Morgan Treasury Services in Europe, Middle East and Africa, said: “These payment platform enhancements will provide clients with more options to manage their payables and receivables processes more efficiently. The new capabilities are part of J.P. Morgan Treasury Services’ $1 billion global expansion and investment plan, which was announced last September.”
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
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.
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