JP Morgan Treasury Services has launched an enhanced and redesigned web portal, Web Currency Services. The portal provides a single, online solution for clients’ currency needs, improved internal controls, and enhanced expense and non-earning asset management.
Web Currency Services (replacing a previous cash portal WebOrder) provides a variety of detailed views of cash transactions through JP Morgan’s nationwide vault network and user-friendly analytical dashboards. Clients will now be able to gain further visibility into the following areas of cash management:
- Online ordering and history: clients will experience ordering flexibility and viewing of historical activity, which may be used to resolve internal inquiries and provide a holistic view of ordering transactions. The new currency ordering interfaces with organisations in real time for orders placed with JP Morgan’s nationwide network of more than 100 vaults to optimise funds availability.
- Deposit details: clients will be able to view denominational and adjustment information for each cash deposit made through the JP Morgan nationwide vault network to help reconcile transactions and understand adjustments posted.
- Cash forecasting: the new platform uses market-leading software to help reduce cash inventory providing clients an opportunity to invest once-idle balances. Additionally, combining state-of-the art intelligent forecasting algorithms with pre-set parameters and daily activity transmission data, the system will calculate and recommend cash orders and/or deposits automatically for multiple locations.
- Vault trend reports and dashboards: clients can view monthly reports in an online library. Dashboards are comprehensive and dynamic with graphic illustrations to visually assess deposit and order trends and analysis. Flexible reporting allows clients to see both individual and specific locations as well as a consolidated historical view.
“We are excited to offer clients market-leading software to provide a comprehensive online tool, with key analytical capabilities,” said Paul Jarrett, senior product manager, JP Morgan Treasury Services. “The new functionality demonstrates our continuous investment into this product set, featuring state-of- the-art cash-forecasting technology along with our nationwide vault network for completely integrated end-to-end cash supply chain management.”