JPMorgan’s Treasury Services (JPM TS) business has expanded new payables and receivables capabilities in the Baltic and Nordic regions, through both urgent payments and non-urgent local ACH channels.
The firm said that corporates with customers or suppliers in these markets can now initiate and receive payments in seven additional countries. This brings the total number of European countries in which JPMorgan clients can transact in the domestic clearing, to 20, in addition to SEPA and Multi-currency transaction services.
Commenting on the regional expansion, Alex Caviezel, head of JPM TS in Europe, Middle East and Africa, said: “The model is ideal for larger organisations based outside the Baltics or Nordics who actively trade there. The solution simplifies the task of managing multiple bank accounts and bank relationships, enabling clients to manage their funds conveniently on a London-based account.”
The Treasury Services business of JPMorgan offers payment, collection, liquidity management, commercial card, trade finance and treasury solutions.
