JP Morgan's Treasury Services business, a full-service provider of cash management, trade finance and treasury solutions, today announced it has achieved Swift Bank Readiness Certification.
As a certified bank, J.P. Morgan is now listed in SWIFT's online database, which gives corporations information on the SWIFT capabilities of their banking partners.
"As a supporter of SWIFT for Corporates since the inception of the program, J.P. Morgan is pleased to have achieved Bank Readiness Certification from SWIFT," stated Robert J. Blair, Executive Director, J.P. Morgan Treasury Services. "This certification is confirmation of our strong commitment to fully support clients that want to communicate via SWIFT to increase global visibility into their cash positions, thus enabling better-informed investment decisions and improved working capital management."
The SWIFT Bank Readiness Certification database lets corporations know which banks offer which SWIFT capabilities. This detailed information gives corporations valuable insightallowing them to make informed decisions related to their banking partners. SWIFT for Corporates allows corporations to replace multiple bank communication systems with a single means of exchanging messages with banking partners, delivering savings through improved automation and reduction of in-house treasury and IT costs.
J.P. Morgan has actively participated in the SWIFT Corporate Advisory Group which fostered the development of this new Bank Readiness Certification program. The bank has played an important leadership role in promoting the development of a common language and common processes through standards in communication, such as the ISO20022 XML format for financial corporate-to-bank messaging. J.P. Morgan provides the benefits of SWIFT for Corporates to clients around globe.