J.P. Morgan launches reference accounts for financial institution clients
Jul 08, 2011
J.P. Morgan Treasury Services now offers in-country and multicurrency reference accounts for financial institution clients. This offering enables financial institutions to support their corporate customers' needs beyond their core markets by leveraging J.P. Morgan's global footprint.
Reference accounts are opened by a J.P. Morgan financial institution client to help support the needs of their corporate customers who need account services in a location where their bank does not have operations. The solution enables the financial institution client to offer services to its customers in locations beyond its own footprint and eliminates the need for the corporate client to establish a new banking relationship.
The benefits to financial institutions of this new reference account offering include:
- Broadening of cash and trade products and services coverage to customers regionally, as well as globally
- Expansion of global and regional offerings with minimal capital investment
- Optimization of cash balances and streamlining of information to aid strategic business decisions and improve overall governance and control