JP Morgan expands its Treasury Services offerings in South Korea

JP Morgan As it became known, JP Morgan declared that it has continued the expansion of its Treasury Services offerings in Asia Pacific by launching its liquidity management services and enhanced domestic cash management capabilities in South Korea.

J.P. Morgan is a direct clearer of payments and receivables through its membership in several South Korean clearing systems, thereby enhancing its range of Korean won services. It has launched a new Korean language internet banking platform, which enables clients to access a localised, highly flexible and reliable funds transfer facility. Payment instructions, approvals, confirmations and information reporting can be undertaken using a secure, fast, and convenient platform that will help make cash management more efficient for J.P. Morgan clients.

Besides, J.P. Morgan has also launched a multi-bank sweep capability enabling disaggregated balance positions held at multiple banks to be consolidated and reported through J.P. Morgan’s local language internet banking platform. "This multi-bank sweep capability enables simplified management of fragmented cash positions and supports liquidity optimisation. The concentration of Korean won into a single account also provides better control, visibility and settlement convenience to clients," said Margaret Yao, managing director, head of APAC liquidity solutions, J.P. Morgan Treasury & Securities Services.

The expansion of its Treasury Services offerings in Asia Pacific is part of J.P. Morgan’s ongoing plan to continually invest in systems, innovation and services to benefit its clients throughout the world. With over 100 years of experience in operating in Asia, the world’s largest U.S. dollar clearing and commercial bank is linked to clearing systems in 14 countries throughout the region. J.P. Morgan Treasury Services also provides market-leading classical trade, structured trade finance, and supply chain management solutions to clients worldwide.

J.P. Morgan’s best-in-class customer service, market-leading technology and robust risk management practices have enabled the firm to become a trusted global advisor.

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