JPMorgan Treasury Services today announced the launch of a new private-labelled payment integration product, Financial Services Integration (FSI).
FSI enables regional banks to integrate their payment systems more effectively with their corporate customers' enterprise resource planning (ERP) systems, resulting in more efficient processing, reduced risk of errors and higher levels of straight through processing (STP). FSI empowers banks to keep up with their customers' financial integration needs and remain competitive in an increasingly global market.
JPMorgan's FSI solution helps banks to expand their services while focussing on their core competences and minimising technology investment. Corporates benefit from improved automation, better control of cash positions and more efficient liquidity management. Banks using FSI receive payment instructions from their customers' ERP systems via a secure internet connection. FSI software routes transactions for processing and returns confirmations to the customer.
JPMorgan's FSI solution provides:
A seamless interface to a variety of ERP systems
Security and payment integrity
Comprehensive Management Information Systems (MIS) reporting
Technology and integration resources to help implement and support the service.
Roger Brown, client access product manager at JPMorgan Treasury Services, said, "The automation needs of corporate customers are quickly outpacing the ability of many banks to keep up with the necessary technological investment. FSI provides banks with a sophisticated and cost-effective solution for integrating with their customers' systems."
About JPMorgan Treasury Services
JPMorgan Treasury Services (www.jpmorgan.com/ts) 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. As a leader in US dollar and cross-border payments, JPMorgan Treasury Services processes up to $2.5 trillion in US dollar wire payments daily. It has been the number-one ACH originator since the inception of the network some 28 years ago and is the number-one non-indigenous provider of euro clearing. JPMorgan has also been rated preferred provider of Continuous Linked Settlement (CLS) services in a survey by market research company, FImetrix. With more than 50,000 clients and a presence in 35 countries, JPMorgan Treasury Services is the world's largest provider of treasury management services.
JPMorgan Treasury Services is a part of the Treasury & Securities Services unit of JPMorgan, which also includes Worldwide Securities Services.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.2 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. has its corporate headquarters in New York and its U.S. retail financial services and commercial banking headquarters in Chicago. Under the JPMorgan, Chase and Bank One brands, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients. Information about the firm is available at www.jpmorganchase.com.