JPMorgan has partnered with NTT Data to provide local financial institutions in Japan with an integrated and automated platform for cross-border payments.
Local Japanese banks will be able to send online transactional instructions for treasury services requests to JPMorgan through NTT Data’s application service provider (ASP) platform, a web-based delivery channel between local banks and their customers. The live solution enables banks to send requests without any data re-entry, resulting in cost savings and enhanced risk controls, and yielding process efficiency improvements. Future phases of development will provide broader capabilities and scope of services.
Ricky Kaura, managing director and treasury services Japan business executive at JPMorgan, said: “Clients are already reaping benefits, and there has been strong interest. For the vast majority of our clients, there will be little to no change required to leverage this advanced capability, which we know is an important factor for them.”
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