JPMorgan is to help strengthen cash management processes for Robinsons Land Corporation (RLC), one of the largest property developers in the Philippines.
The initial roll-out covers the opening of operating accounts with JPMorgan New York and JPMorgan Toronto, Automated Clearing House Services as well as Lockbox Services in the US and Canada.
JPMorgan cash management will provide RLC with more transparency and timely accessibility to critical payment data, resulting in significant improvement in the company’s payments reconciliation process. The new system will help RLC improve its efficiency in monthly collections globally, whether via wire transfer, cheques or over the counter.
“We are delighted to assist RLC with its cash management solutions. We believe that with the new system, RLC will be able to extend better payment facilities to its growing international clients base as well as cater to needs of its strong domestic clientele by leveraging off JPMorgan’s global reach and infrastructure,” says Roberto Panlilio, managing director and the Philippines country officer, JPMorgan.
“We appointed JPMorgan to meet the demands of the international market and to expand reliability and efficiency of our customer service. As a leader in the cash management services, JPMorgan assists us with the establishment of more effective controls of our operating account activities and timely information,” adds Frederick Go, president of Robinsons Land Corporation.
The next phase of the project will involve Europe and Asia Pacific services in order to provide payment facilities to RLC’s offshore customers based in these regions