JPMorgan Releases e-Trade Solution For FI's; Enhanced Risk Management Tool
JPMorgan Treasury Services announced new product developments in trade and risk management at the Sibos banking and payments conference. Trade Information Exchange (TIE), the bank’s e-enabled trade finance product, is now available to financial institutions. TIE is a browser-based capability that delivers ‘an expedient, flexible and cost-efficient solution’ for managing trade information on a global scale, the banks said. Users will be able to view Trade Information Exchange data in a variety of roles, including as an issuing bank, an advising bank, a remitting bank or a collecting bank. In addition, JP Morgan unveiled a number of enhancements to its Web-based, enterprise wide Horizon Risk Management Solution. The bank’s self-assessment and audit tool now features an offline, Excel-based capability, HorizonXL, that allows various lines of business in an organisation, as well as different companies in an industry, to submit data for instant analysis and tracking of actions taken to mitigate risk. A Treasury Readiness template also permits clients to review the readiness of their treasury operations in the event of a major contingency occurrence.