Payment news, November 16

J.P. Morgan improves its foreign exchange solution, while Citi opens its largest branch in Hong Kong.

J.P. Morgan enhances foreign exchange solution

J.P. Morgan has enhanced its foreign exchange solution by allowing its customers to make Automated Clearing House ACH payments to 40 countries in 19 currencies from a single account. The bank said that additional currency capabilities will be added to the solution in the near future.

“J.P. Morgan continues to invest in its foreign exchange services to help clients cut payment costs while improving operational efficiency on a global scale,” said Traci Filler, managing director of foreign exchange at J.P. Morgan treasury services, in a statement. “By expanding our cross-border ACH capabilities, J.P. Morgan’s clients now have more currency and low value payment options. Clients also benefit...

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