JP Morgan Treasury Services has announced the availability of its translation services capability. “Translation Services” is offered in conjunction with “PaySource”, which streamlines and simplifies payments, collections and information reporting. Translation Services has been available to customers since the end of last year.
Using industry-proven translation and integration technologies, JP Morgan’s Translation Services converts client-generated files to the required JP Morgan processing formats, providing seamless integration to the bank, and affording improved efficiency and reduced costs to clients.
“Clients no longer need to understand the intricacies of electronic data interchange (EDI) or of JP Morgan’s proprietary file specifications and requirements. Translations Services provides clients with easy access to our global transaction-processing facilities, which offers a new dimension in client-support and product-fit for the market,” explains Tom Capria, senior product manager for translation and integration for JP Morgan Treasury Services. “Thus far, the feedback we’ve received from clients using this service has been excellent.”
Translation Services currently support SAP IDoc files and XML data files. Through JP Morgan’s translation facilities, clients can produce standard output files from their internal systems, and JP Morgan then translates the files into the required processing format. The new translation facility is geared to support all PaySource transaction types, as well as split remittance details, and return file acknowledgements.
PaySource streamlines and simplifies payments, collections and information reporting. PaySource utilises Electronic Data Interchange (EDI) as a core technology platform designed to provide safe, seamless access to JP Morgan’s global payment capabilities, including mass payments, funds transfer and check printing services. Clients can send a single file to JPMorgan with instructions for wire transfers, checks, ACH and foreign exchange transactions. JP Morgan authenticates the file, validates the content, and routes the information over the appropriate settlement channel. JP Morgan’s EC Gateway facilitates secure and easy transfer of files via the internet.