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Efficiency & Technology for Enhanced Treasury Management

by Linda McLaughlin-Moore, Managing Director J. P. Morgan, Treasury Services Product Management and Delivery, EMEA and Mike Burn, Product Executive, J.P. Morgan – Treasury Services, EMEA Client Access

Even during a prolonged period of economic fragility, every organisation’s ambition is to grow more quickly and more sustainably than its competitors. At J.P. Morgan, we share the same objective. We aim to achieve this by anticipating, delivering and supporting the solutions and services that our customers require as they expand into new markets and customer communities. Pivotal to achieving growth is both operational and financial efficiency, and risk mitigation. These are the central tenets of our strategy, both in the way that we deliver our solutions and services, and the benefits that these offer to our customers.

Standardisation for efficiency

One important way in which our customers are aiming to enhance their operational efficiency is through greater standardisation of systems, processes and formats. Bank integration is a key element of this. We are helping our customers to plan their bank connectivity to enable streamlined processing based on secure data exchange and standardised formats. One method of achieving this is to use SWIFTNet, formerly the bank-to-bank communication network, through which non-financial corporations are also entitled to exchange financial messaging. By leveraging a non-proprietary network across all their banks, corporates manage their connectivity risk more effectively than using multiple electronic banking or host-to-host systems provided by individual banks. A key benefit is that there is no need to change bank connection in the event of changing or adding banking partners. A single channel also makes it easier to standardise processes and formats, and avoid fragmentation of information. SWIFTNet offers maximum security and resilience, which are vital considerations in managing operational risk.

Enhancing decision-making through greater efficiency

Using a bank-agnostic, robust single channel for communicating with banking partners enables corporate treasurers and finance managers to focus on the information itself, as opposed to how it is transmitted and received.

At J.P. Morgan, we are active in supporting customers to use data more efficiently, both to automate processes such as reconciliation and account posting, and facilitate better-informed decision-making. For example, a valuable advantage of working with us is the ability to access several advanced workflow tools. These not only deliver information on flows and transactions with J.P. Morgan, but more widely across the J.P. Morgan Network, i.e., our partner banks with whom we provide a comprehensive global service.