JPMorgan enhances its cash management and trade finance applications in India. JPMorgans Treasury Services division provides cash management, trade finance, and foreign currency clearing account services to some of the largest India-based firms within the financial services, manufacturing, IT, infrastructure, chemicals, aviation and retail industries.
Recently, JPMorgan unveiled a global investment plan of more than US$1 billion to strengthen its cash management and treasury liquidity capabilities, invest in technology applications and expand its global footprint. This investment will further make it easier for JPMorgan clients to move, concentrate, invest and manage their cash around the world.
As part of this investment plan and in response to the increasing customer demand, JPMorgan has launched new domestic cash management and trade finance capabilities in India. The full suite of capabilities includes an integrated electronic banking platform, high-value and low-value electronic payments and receipts, local and out-station check clearing, liquidity solutions, as well as a wide range of trade finance and structured trade finance including Export Credit Agency-backed financing solutions, supply chain, logistics advisory services, risk mitigation solutions and freight payment audit services using state-of-the-art integrated technology built on robust proprietary platforms. These domestic capabilities complement JPMorgans global service offering and leverage its global network.
“India is a focal point for us within the Asia Pacific region, as reflected by the continued expansion of our cash management and trade finance capabilities throughout the country,” says says Linda McLaughlin-Moore, managing director, product management and delivery executive Asia Pacific, JPMorgans Treasury Services. “We are combining global and local capabilities that will enable clients to operate more efficiently worldwide.”
“Our enhanced domestic service offering in India leverages our global technology, service excellence model and consolidated liquidity services across more than 90 markets to help clients maximise their working capital and supply chain finance,” says says Rajiv Jain, managing director, head of JPMorgans treasury services in India and South Asia. “Combined with best-in-class trade finance solutions, we are able to offer a comprehensive range of treasury services to our clients.”
Our consistent and disciplined approach to managing our balance sheet has enabled us to be the transaction processing bank of choice for many corporations, financial institutions and non-bank financial institutions in India that are looking for a safe haven to diversify their assets.
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