J.P. Morgan Treasury Services to Provide Enhanced FX and Cross-Border Payment Capabilities to Fundtech’s Payplus USA Clients
J.P. Morgan Treasury Services, a full-service provider of cash management, trade finance and treasury solutions (NYSE: JPM), announced it has partnered with Fundtech Ltd. (NASDAQ: FNDT) to offer an integrated international payments service to banks using PAYplus USA. With this new capability banks will be able to offer their clients enhanced foreign exchange and cross-border payment services, which offer the banks new revenue opportunities as they route transactions through J.P. Morgan.
Fundtechs PAYplus USA provides end-to-end processing for domestic wires. The partnership provides Fundtech clients a seamless means to access a variety of services including foreign exchange in over 135 currencies, and US Dollar Clearings complete suite of international commercial payment capabilities including expedited payments to and from Asia. Leveraging the interface to J.P. Morgan, PAYplus USA clients have more options and increased flexibility to customize their transaction processing.
Christine Doria, Managing Director, J.P. Morgan Treasury Services said of the new service: Our greatest strength lies in understanding our clients needs. In service to our clients, this new partnership can help banks and their clients improve profitability in the current economic environment. She added, Cross-border payments are a top priority for our clients. Along with our partners at Fundtech, we can now offer our clients further access to our services.
Commenting on the partnership, Anthony Salamone, Fundtechs Vice President, US Payment Products said: Our partnership with J.P. Morgan Treasury Services provides Fundtechs PAYplus USA clients the ability to seamlessly add FX transactions to their US wire transfer system. These banks will be better able to service their clients expanding need for international payments, and profit from this important value-added service.
About J.P. Morgan Treasury Services J.P. Morgans Treasury Services business is a full-service provider of innovative cash management, trade, liquidity, commercial card and escrow services -- specifically developed to meet the challenges treasury professionals face today. More than 135,000 corporations, financial institutions, governments and municipalities in over 180 countries and territories entrust their business to J.P. Morgan. J.P. Morgan Treasury Services is one of the world's largest providers of treasury management services and a division of JPMorgan Chase Bank, N.A., member FDIC. More information can be found at www.jpmorgan.com/ts.
About JPMorgan Chase & Co. JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and
private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the worlds most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
About Fundtech Fundtech (NASDAQ: FNDT), was founded in 1993, and is a leading provider of software and services to banks of all sizes around the world. Payments systems include wire transfers, ACH origination, cross-border payments and remittance. Cash management systems are designed for large corporate through small business clients. Fundtech operates the worlds largest SWIFT service bureau. We offer an extensive line of financial supply chain applications including electronic invoice presentment and supply chain financing. And we are the leading provider of CLS systems to the worlds largest banks. More than 1,000 clients throughout the world rely on Fundtech solutions to improve operational efficiency and provide greater competitiveness through innovative business-to-business services. For more information, visit www.fundtech.com.
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