JPMorgan and ING have joined forces to deliver integrated global treasury management solutions to corporate customers worldwide.
The partnership combines the strength of ING's presence in central and eastern Europe with the global reach of JPMorgan's Treasury Services.
The combined service is designed to offer clients the opportunity to manage liquidity and payment flows on a global basis and provide a ready-to-use vehicle for corporate expansion into new territories.
Implementation of the joint service is already underway, led by a project management team staffed by both organisations. The two banks say the integration project will encompass staff as well as systems.
The service is expected to be in pilot operation by the end of this year, with eight CEE countries being implemented throughout 2003. The first live countries will be Poland, Hungary and the Czech Republic.