JP Morgan and NTT Data Launch Multi-bank Cash Management Platform in Japan
JP Morgan Treasury Services has launched a multi-bank cash management service in Japan in partnership with IT solutions provider, NTT Data. The service will provide multinational corporations operating in Japan with enhanced visibility and control over the movement of their cash. It can also serve as an effective tool within a company’s business continuity framework.
The platform, which is now live, is a bilingual treasury management infrastructure which will deliver benefits to multinational clients operating in Japan. Offering a single point of access globally to a corporation’s accounts held with other banks in Japan, the service will provide greater visibility over a client’s cash portfolios, robust control over the movement of funds across different operating entities and third-party enterprises, and faster connectivity and execution of transaction processing and reporting. Further enhancements are planned for 2012, including connectivity to SWIFT.
Hans Janssens, head of treasury and securities services, Japan, JP Morgan, said: “For many decades, JP Morgan has played a key role in the development of Japan’s financial markets infrastructure. The rollout of our multi-bank cash management service is an important next step in the evolution of the country’s transaction banking sector, and we are delighted to again take a leading role in innovating for our clients and the broader financial community.”