JP Morgan Treasury Services, a provider of cash management, trade finance and treasury solutions, has partnered with Fundtech 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 (FX) and cross-border payment services, which offer the banks new revenue opportunities as they route transactions through JP Morgan.
Fundtech’s PAYplus USA provides end-to-end processing for domestic wires. The partnership provides Fundtech clients a means to access a variety of services including FX in over 135 currencies, and US Dollar Clearing’s complete suite of international commercial payment capabilities – including expedited payments to and from Asia. Leveraging the interface to JP Morgan, PAYplus USA clients have more options and increased flexibility to customise their transaction processing.
Christine Doria, managing director, JP Morgan Treasury Services, said: “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. 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.”
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