JPMorgan Chase, Bill.com partner for digital payments platform

This B2B solution, to be rolled out in 2018, will be integrated into Chase’s digital platform for businesses, used for online and mobile solutions.

According to the bank, it will help its clients save up to 50% of the time they spend manually managing their bills. The solution includes sending and receiving payments and invoices electronically, and syncing information with accounting software.

JPMorgan Chase also made an undisclosed investment in Bill.com. This is the latest initiative by the bank to tap into fintech companies, following agreements for small business lending, mortgage origination, and auto purchase and financing.

According to Bill.com, it has more than 2.5 million members paying and getting paid more than USD 36 billion per year. The company’s technology also is used by accounting software providers QuickBooks Online and Xero.