JP Morgan Payments has launched its Supply Chain Finance (SCF) solution integrated with Oracle Fusion Cloud Enterprise Resource Planning (ERP), a solution used by FedEx.
The bank aims to optimise working capital as part of its commitment to offering increasingly better financial solutions to its clients. The alliance between the three companies aims to improve working capital and optimise liquidity management, creating a feature that integrates JP Morgan’s SCF functionality within Oracle Cloud ERP via Oracle B2B, allowing FedEx to configure natively in the system rather than having to implement a custom solution.
This reduces a typical six-month development project to a simple activation and setup process. When FedEx approves an invoice, the vendor can choose to wait for payment on extended terms or receive early payment through JP Morgan Payments at financing rates based on FedEx’s credit rating.
Improving working capital management
J.P. Morgan Payments delivers SCF to FedEx via its Integrated Trade Finance for Oracle Fusion ERP. FedEx also uses JP Morgan’s L&AS and Kinexys blockchain to enhance liquidity management, including Kinexys Digital Payments across notional pools in Europe and the APAC region. FedEx mentioned that working with the two companies has transformed the way it manages working capital. Leveraging JP Morgan Payments' SCF and liquidity solutions in a way that is tailored to its business has strengthened its financial position and enhanced its operational resilience, according to the American conglomerate.
Since 2022, JP Morgan Payments and Oracle have focused their partnership on offering mutual corporate clients improved experiences, automated processes, and connectivity. JP Morgan Payments’ range of integrations for Oracle Cloud ERP also includes integrated banking, touchless expenses for AI-powered expense submission and faster reimbursements, and integrated virtual cards.
Their long-standing collaboration improves the way customers unlock new banking and working capital solutions through embedded AI within Oracle Cloud ERP. Additionally, Oracle is part of the JP Morgan Payments Partner Network, which connects JP Morgan Payments' range of payment products and more than 80 third-party relationships and integrations to help clients build, implement, expand and optimise payments strategies based on their business needs.
