JP Morgan has launched two new services aimed at improving treasury management for its corporate investment banking customers.
The bank said that JP Morgan Treasury Workstation and JP Morgan Multibank Reporting will allow it to offer clients real time data, connectivity and onboarding of customers via a single API.
JP Morgan Treasury Workstation will enable corporate clients to access multibank treasury management software while JP Morgan Multibank Reporting will build on JP Morgan's current SWIFT based multibank reporting services by opening up API-based multibank connections enabling more real-time reporting.
Both services have been piloted with clients over the past few years, JP Morgan said.
The bank added that the services, which have been launched in partnership with Trovata, will speed up information sharing, reduce stress on finance teams and enable companies to become less reliant on legacy software.
Commenting on the news Jason Tiede, global head of corporate development and partnerships at JP Morgan Payments, said: "Over the last several years, J. P. Morgan has seen incredible value in partnering with and investing in innovative FinTechs to bring tech-forward solutions to our clients, and our partnership with Trovata enables us to do just that."
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