J.P. Morgan Payments adds real-time liquidity sweeping solution

Tuesday 21 March 2023 14:39 CET | News

J.P. Morgan Payments has updated its global platform to allow clients to fund Real-Time Payments using their existing liquidity 7 days a week.

J.P. Morgan's most recent solution will now enable clients in all locations to directly use their liquidity infrastructure to ensure that liquidity is accessible whenever payments are made.

J.P. Morgan Payments has updated its global platform to allow clients to fund Real-Time Payments using their existing liquidity 7 days a week.

The key value-add of our real-time liquidity sweeping solution is that it enables clients to make payments 24 hours a day, seven days a week without the need to leave idle cash balances on accounts locally to prefund non-business day activity, optimise working capital, create greater availability of funds, and maximise the ability to invest.

J.P. Morgan has also improved customers' capacity to achieve real-time cash positioning by introducing new API features that enable clients to self-serve on sweeping parameters with the press of a button. Customers can make real-time changes to important parameters like sweep amounts and perform liquidity moves on demand.

J.P. Morgan's solutions enable customers to utilise their organisations' worldwide liquidity positions in order to assure financing availability. Clients have a complete insight into their structures and may optimise liquidity in the most effective manner.

Allowing clients to fund Real-Time payments through existing liquidity

In an ever-changing economic climate, Treasurers' ability to make better financial and strategic decisions is more important than ever. Companies must gain end-to-end insight into their whole liquidity portfolio in real-time. The provision of real-time liquidity, real-time insight, and real-time reporting is becoming increasingly important in helping Treasurers and businesses to manage their cash flow more efficiently.

Historically, there has always been a time lag between when payments were made and when the beneficiary received them. This was due to the necessity for both the sending and receiving banks to settle their books before transferring payments to the recipient. Yet, improvements in information technology have occurred during the last two decades. As a consequence, the majority of transactions may now be automatically cleared and settled with excellent accuracy.

J.P. Morgan’s path to digitalisation

In 2022, J.P. Morgan had a proactive year. It all started with the creation of an 'Onyx lounge' in the metaverse, a virtual lounge in Decentraland's blockchain-based universe. Users may acquire virtual plots of land in the form of NFTs using cryptocurrency supported by the Ethereum network.

The firm also wishes to assist content producers who want to commercialise their creations in the metaverse, whether by lending money to finance them or by constructing virtual wallets through which they may receive a commission.

J.P. Morgan later agreed to buy Renovite Technologies, a cloud-native payments technology startup, to create its merchant acquiring platform. The purchase of Renovite demonstrates J.P. Morgan Payments' commitment to worldwide clients by delivering robustness and optimised infrastructure. This acquisition adds to the firm's anticipated strategic investment in Viva Wallet as well as its strategic cooperation with Volkswagen Financial Services AG.

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Keywords: payments , real-time payments, banks, transactions , metaverse
Categories: Banking & Fintech
Companies: J.P. Morgan
Countries: World
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Banking & Fintech

J.P. Morgan

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