JP Morgan Enhances Domestic Cash Management in India
JP Morgan has enhanced its cash management and trade finance solutions in India after injecting more than US$1bn globally to strengthen its cash management and treasury liquidity capabilities, invest in technology solutions and expand its global footprint. The full suite of capabilities includes an integrated electronic banking platform, high-value and low-value electronic payments and receipts, local and out-station cheque clearing, liquidity solutions, as well as a wide range of trade finance and structured trade finance – including export credit agency-backed financing solutions, supply chain, logistics advisory services, risk mitigation solutions and freight payment audit services using state-of-the-art integrated technology built on proprietary platforms.
Rajiv Jain, managing director, head of JP Morgan’s treasury services in India and South Asia, said: “Our enhanced domestic service offering in India leverages our global technology, service excellence model and consolidated liquidity services across more than 90 markets to help clients maximise their working capital and supply chain finance. Combined with best-in-class trade finance solutions, we are able to offer a comprehensive range of treasury services to our clients.” JP Morgan’s treasury services division provides cash management, trade finance, and foreign currency clearing account services to some of the largest India-based firms within the financial services, manufacturing, IT, infrastructure, chemicals, aviation and retail industries.