JP Morgan partners NTT Data on Japanese multibank cash management platform

Source: JP Morgan Treasury Services

JP Morgan Treasury Services has launched an innovative Multibank Cash Management Service in Japan in partnership with leading IT solutions provider, NTT Data Corporation.

The service will provide multinational corporations operating in Japan with enhanced visibility and control over the movement of their cash. It can also serve as an effective tool within a company's business continuity framework.

The platform, which is now live, is a market leading bilingual treasury management infrastructure which will deliver significant benefits to multinational clients operating in Japan. Offering a single point of access globally to a corporation's accounts held with other banks in Japan, the Multibank Cash Management Service will provide greater visibility over a client's cash portfolios, robust control over the movement of funds across different operating entities and third-party enterprises, and faster connectivity and execution of transaction processing and reporting.

Key features of J.P. Morgan's Multibank Cash Management Service include:
 The ability to maintain accounts with local banks
 A secure, single point of access with high-speed connectivity
 Enhanced access from within Japan and overseas
 Automated multibank cash concentration functionality
 A wider range of payment formats
 A simplified single payment file upload process
 Consolidated and consistent reporting globally
 Bilingual reporting in English and Japanese

Further enhancements are planned for 2012, including connectivity to SWIFT.

The Multibank Cash Management Service was developed with NTT DATA Corporation, one of Japan's leading providers of IT services and solutions. The new platform is a generational shift which addresses legacy market limitations and delivers improved flexibility, visibility and control of cash management for MNCs in Japan.

Hans Janssens, Head of Treasury & Securities Services, Japan, J.P. Morgan, said: "For many decades, J.P. Morgan has played a key role in the development of Japan's financial markets infrastructure. The rollout of our Multibank Cash Management Service is an important next step in the evolution of the country's transaction banking sector, and we are delighted to again take a leading role in innovating for our clients and the broader financial community."

Junichi Hashimoto, Product Manager, Cash Management, Japan, J.P. Morgan Treasury Services, added: "J.P. Morgan's market leading Multibank Cash Management Service will be instrumental in helping MNCs with operations in Japan significantly improve their treasury management processes. With greater visibility over their entire cash flow, they are better placed to redeploy their cash and achieve their strategic growth objectives."

Eiji Yamada, Director and Executive Vice President, NTT DATA Corporation, said: "NTT DATA has played an important role in supporting Japan's financial markets infrastructure. This new platform is a great opportunity to provide this NTT DATA Corporation solution for global MNCs. NTT DATA Corporation has grown a global business, and we aim to further develop our global business with this solution."

The launch of J.P. Morgan's Multibank Cash Management Service underscores the firm's continued cash management leadership in Japan. More than 25 years ago, J.P. Morgan established the Tokyo Dollar Clearing system, which is now widely used as Japan's primary USD clearing platform. Since then, the firm has invested significantly in developing its cash management and trade finance solutions to continue delivering the highest levels of service to its global MNC and large domestic corporate and financial institution clients. 

Comments: (0)

sponsored

Embracing Open Banking with Secure and Interconnected APIs