J.P. Morgan Treasury Services (NYSE: JPM), a full-service provider of cash management, trade finance, treasury solutions and escrow services, today launched an enhanced and redesigned web portal, Web Currency Services.
The new portal provides a single, online solution for clients' currency needs, improved internal controls, and enhanced expense and non-earning asset management.
Web Currency Services (replacing a previous cash portal, WebOrder) provides a variety of detailed views of cash transactions through J.P. Morgan's nationwide vault network and user-friendly analytical dashboards. Clients will now be able to gain further visibility into the following areas of cash management:
Online Ordering & History: Clients will experience ordering flexibility and viewing of historical activity, which may be used to resolve internal inquiries and provide a holistic view of ordering transactions. The new currency ordering interfaces with organizations in real time for orders placed with J.P. Morgan's nationwide network of more than 100 vaults to optimize funds availability.
Deposit Details: Clients will be able to view denominational and adjustment information for each cash deposit made through the J.P. Morgan nationwide vault network to help reconcile transactions and understand adjustments posted.
Cash Forecasting: The new platform uses market-leading software to help reduce cash inventory providing clients an opportunity to invest once-idle balances. Additionally, combining state-of-the art intelligent forecasting algorithms with preset parameters and daily activity transmission data, the system will calculate and recommend cash orders and/or deposits automatically for multiple locations.
Vault Trend Reports and Dashboards: Clients can view monthly reports in an online library. Dashboards are comprehensive and dynamic with graphic illustrations to visually assess deposit and order trends and analysis. Flexible reporting allows clients to see both individual and specific locations as well as a consolidated historical view.
"We are excited to offer clients market-leading software to provide a comprehensive online tool, with key analytical capabilities," said Paul Jarreul Jarrett, Senior Product Manager, J.P. Morgan Treasury Services. "The new functionality demonstrates our continuous investment into this product set, featuring state-of- the-art cash-forecasting technology along with our nationwide vault network for completely integrated end-to-end cash supply chain management."
The enhanced Web Currency Services portal joins a family of robust coin and currency products. For example, Smart Safe with Advanced Credit improves cash flow with daily provisional credit for cash placed in Smart Safes, without making a physical deposit to the bank or vault, lowering costs by reducing daily armored service pickups. Additionally, ATM Business Deposit Card enables companywide staff to make cash and check deposits conveniently at more than 10,000 Chase ATMs while providing the capability to track and reconcile deposits easily online.