JPMorgan Debuts Real-Time Liquidity Sweeping Tool

J.P. Morgan Payments says it has begun offering real time liquidity sweeping solutions.

According to an announcement provided to PYMNTS Tuesday (March 21), this enhancement to the company’s payments platform lets clients fund real-time payments with their existing liquidity seven days a week, thus making sure liquidity is available whenever payments are made.

“In an ever-changing economic environment, the importance of treasurers making improved financial and strategic decisions is more critical than ever,” the announcement said.

“Businesses need to achieve real-time, end to end visibility of their entire liquidity portfolio. The availability of real-time liquidity, real-time visibility, and real-time reporting are becoming more critical in enabling treasurers and businesses to efficiently manage their cash flow.”

With this offering, the company says, clients can make payments around the clock without needing to keep idle cash balances on their accounts.

“Our solutions enable clients to leverage their organizations’ global liquidity positions, to ensure that funding is available, clients have full visibility of their structures and can optimize liquidity in the most efficient ways,” said Martijn Stoker, the company’s head of liquidity and account solutions for EMEA (Europe, the Middle East and Africa).

“In the current fast-moving environment, our focus is to ensure clients are equipped with appropriate real-time capabilities.”

Recent research by PYMNTS and Corcentric shows that CFOs in a number of industries have identified liquidity modernization as a pressing need for their business.

According to findings in “Digital Payments: A Changing Economy Sparks New Priorities for Systems Spending,” almost two-thirds of finance and insurance firms say they are investing or plan to invest in modernized working capital and credit.

The report’s research also shows that of sector businesses that had modernized, 73% said their working capital and credit systems improved thanks to their investments in digital technology.

Finance and insurance firms seeking to modernize without the in-house resources of major competitors may instead tap the many partner and platform options to meet their needs.

For example, last year Payoneer hired industry veteran Assaf Ronen to serve as its first chief platform officer, integrating Payoneer’s technology into high-value service offerings, including B2B accounts payable, accounts receivable and working capital.

Meanwhile, PYMNTS recently spoke with Tony Wimmer, head of data and analytics at J.P. Morgan Payments, on the use of artificial intelligence (AI) in the payments world.

“What makes Tony Stark Iron Man is his exoskeleton and AI-powered enhancement technology,” Wimmer told PYMNTS’ Karen Webster.

And by the same token, AI is giving payment professionals some high-powered upgrades of their own, improving human decision-making by offering the right insights at the proper time.

Those insights, said Wimmer, can help a company’s treasury, merchants, issuers and acquirers to optimize — and repair — payments by increasing conversion rates.