JPMorgan’s treasury service business has unveiled plans to expand and enhance its global service capabilities. With a planned investment of more than US$1bn, JPMorgan is aiming to improve its cash management and treasury liquidity capabilities and further invest in technology.
Key enhancements to JPMorgan treasury services include the launch of a single global platform that will provide clients with greater transparency into their treasury activities, and will allow them to manage their cash more efficiently across regions. The bank will also be expanding its international payments offering and invest in an enhanced financial supply chain that combines JPMorgan’s trade finance, logistics, dynamic discounting and electronic invoice settlement capabilities.
The bank is also introducing a web-based accounts receivable management application to Emea and Asia Pacific clients enabling them to globally reconcile receivables. It is also investing in a new Asia offshore clearing network that allows clients to keep liquidity in the region, clear in multiple regional infrastructures, consolidate cash balances and benefit from same-day finality.
"While many banks are curtailing treasury investments, selectively downsizing their global footprint due to the current economic environment, JPMorgan is taking the opposite approach. We are boldly expanding our global treasury services capabilities," comments Melissa Moore, CEO of JPMorgan's treasury services business.
"In conjunction with our substantial investment plan, we are expanding the JPMorgan footprint in every region in the world. Through these efforts, we are combining global and local capabilities that will enable clients to operate more efficiently worldwide."
Last Updated September 18, 2008
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