JPMorgan Treasury wins OECD banking mandate

JPMorgan Treasury wins OECD banking mandate

JPMorgan Treasury Services has been selected by the OECD to manage its international banking operations.

Under the contract, JPMorgan TS will consolidate OECD accounts, automate its treasury and co-develop a new cash management system. The latter will be linked directly to an internal SAP accounting system and will handle all standard treasury functions: domestic and international electronic banking services, automatic bank reconciliation and multi-currency cheque writing.

In addition, the OECD is to utilise JPMorgan's Paysource and e-Serve technology to handle high volume payment processing and provide secure communications links for online payments tracking.

William Marvin, treasury reporting manager for the OECD, comments: "JPMorgan handles a significant amount of the United Nations' banking and has a great reputation with agencies similar to ours."

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