J.P. Morgan Treasury Services (TS) has enhanced its existing online trade platform, Trade Channel, so that its clients can monitor trading activities from initiation to payment through a single web-based global platform. The online solution will additionally offer supply chain management tools for customers and is integrated with the bank’s online treasury portal, J.P. Morgan Access.
According to J.P. Morgan, Trade Channel further improves efficiency, reduces expense, mitigates risk and helps streamline its clients' trade-related payables and receivables processes. “The next generation of Trade Channel meets the growing business needs of successful players in today’s global trade environment,” said Daniel Cotti, global trade executive at J.P. Morgan TS. “As our clients expand internationally, Trade Channel provides a portal through which they can fund and manage their trade activities end-to-end.”
The new Trade Channel provides users with real-time access to trade flow information. Over the next year, J.P. Morgan will further enhance the platform to provide its clients with a customisable dashboard that can be used to monitor its entire global trade business with J.P. Morgan. In addition, simplified Chinese and Portuguese capabilities have been added to the solution to cater for the bank’s expansion in China and South America.
“We believe many of the new features, particularly our language capabilities, are unique industry offerings,” said Gerry Scalgione, managing director at J.P. Morgan TS. “These platform enhancements reflect the research, discussion and partnership we have with our clients and are offered in response to their most pressing concerns. From the start, Trade Channel has evolved to meet our clients’ current and future global trade requirements.”
The solution currently supports import and export letters of credit (LC), private label LCs, standby LCs and letters of guarantee, import and export documentary collections, open account trade transactions and data enquiries and information management reporting.
“Our clients in Asia will be particularly well served by the enhanced capability,” added Pravin Advani, global trade executive at J.P. Morgan TS. “Given the demanding nature of our clients in the competitive markets throughout Asia they will be able to better manage their cashflows and level of counterparty risk thanks to the real-time visibility of their trade transactions.”
