JPMorgan Treasury Services, the provider of global payment, trade finance and treasury services management, has launched a new nationwide lockbox network. The network rolls out with facilities in Chicago, Dallas and New York. Additional facilities in Atlanta and Los Angeles are scheduled to open later this year. The national network will allow collections to be automatically consolidated into a single account, providing customers with all the advantages of a national network of optimal mail collection sites without the disadvantages associated with multiple accounts or lockbox vendors. ‘Because the network is designed with standardized processes between sites, corporate customers are afforded a quicker, more efficient way to turn receivables into usable assets,’ the firm said. A patented ILIAD online browser allows clients can access remittance documents nationwide ‘at any time’. Other features include payment notification which alerts customers when specific payments are received, image annotation that allows users to ‘stick’ notes to check and document images, standard or customized report creation using magnetic ink character recognition (MICR) and key-entered information, and file download capability in Bank Administration Institute (BAI), fixed-length, or comma-delimited formats. The ILIAD browser also features a seven-year image archive with disaster recovery back-up.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more