Improved Efficiency and Cost Savings
JPMorgan Treasury Services, www.jpmorgan.com/ts, a unit of JPMorgan Chase and a leader in global payment, liquidity and treasury management, today announced the availability of its Translation Services capability. Translation Services is offered in conjunction with PaySource, which streamlines and simplifies payments, collections and information reporting. Translation Services has been available to customers since last fall.
Using industry-proven translation and integration technologies, JPMorgan's Translation Services converts client-generated files to the required JPMorgan processing formats, providing seamless integration to the bank, and affording improved efficiency and reduced costs to clients.
"Clients no longer need to understand the intricacies of Electronic Data Interchange (EDI) or of JPMorgan's proprietary file specifications and requirements. Translations Services provides clients with easy access to our global transaction-processing facilities, which offers a new dimension in client-support and product-fit for the market," explained Tom Capria, senior product manager for translation and integration for JPMorgan Treasury Services. "Thus far, the feedback we've received from clients using this service has been excellent."
Translation Services currently support SAP IDoc files and XML data files. Through JPMorgan's translation facilities, clients can produce standard output files from their internal systems, and JPMorgan then translates the files into the required processing format. The new translation facility is geared to support all PaySource transaction types, as well as split remittance details, and return file acknowledgements.
PaySource streamlines and simplifies payments, collections and information reporting. PaySource utilises Electronic Data Interchange (EDI) as a core technology platform designed to provide safe, seamless access to JPMorgan's global payment capabilities, including mass payments, funds transfer and check printing services. Clients can send a single file to JPMorgan with instructions for wire transfers, checks, ACH and foreign exchange transactions. JPMorgan authenticates the file, validates the content, and routes the information over the appropriate settlement channel. JPMorgan's EC Gateway facilitates secure and easy transfer of files via the Internet.
ABOUT JPMORGAN TREASURY SERVICES
JPMorgan Treasury Services (www.jpmorgan.com/ts) is a full-service provider of innovative treasury, cash management, liquidity, trade finance, information and e-commerce solutions to corporations, financial services companies, governments and municipalities worldwide. As a leader in U.S. dollar and cross-border payments, JPMorgan Treasury Services processes as much as $1.9 trillion in U.S. dollar wire payments daily and has been the number-one ACH originator since the inception of the network some 28 years ago. JPMorgan Treasury Services delivers the strength of a global investment banking powerhouse, along with the personal touch and best in-country expertise of the finest regional banks worldwide.