JPMorgan upgrades European payments platform

Source: JPMorgan

J.P. Morgan's Treasury Services business today announced it has gone live with the first phase of enhancements to its international mass payments operating platform.

The enhancements will deliver immediate benefits to clients using the bank's Global ACH service, including later cut-off times for receipt of payment instructions and intelligent routing which automatically selects the most expeditious route if a cut-off is missed.

Global ACH provides a single gateway for high volume multicurrency payments and collection services across multiple regions. Clients will also now have access to full SEPA credit and debit services from J.P. Morgan accounts domiciled in Belgium, France, Germany, Ireland, Italy, Netherlands, Spain, Switzerland and the UK.

Alex Caviezel, head of J.P. Morgan Treasury Services in Europe, Middle East and Africa, said: "These payment platform enhancements will provide clients with more options to manage their payables and receivables processes more efficiently. The new capabilities are part of J.P. Morgan Treasury Services' $1 billion global expansion and investment plan, which was announced last September."

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