Hunt Companies is a diversified, family-owned holding company that invests in operating businesses, real estate assets and infrastructure assets. Hunt has been a J.P. Morgan Real Estate Banking client since its founding in 1947.
The company’s Treasurer and Senior Vice President David Miller has over 20 years of treasury experience. He serves as a steward for Hunt and supports other businesses and organizations in the space.
“We sent around 15,000 wires in 2021 and spent an average of 10 minutes per wire,” Miller said.
Wires could also be time consuming, as funds might not appear in the recipient’s account for hours. If there was a problem, such as a miscommunication about an account or Office of Foreign Assets Control (OFAC) number, a wire could take up to a week to resolve.
For a more efficient alternative, J.P. Morgan reached out to treasury software provider Kyriba to integrate Real-Time Payments and Account Balance APIs.
The API integration could create a faster, smoother onboarding experience for J.P. Morgan and Kyriba’s mutual clients.
Miller is always looking for ways to innovate, so he jumped at the chance to join the pilot program for real-time payments.
J.P. Morgan worked with Kyriba to integrate Real-Time Payments and Account Balance APIs, which help clients send funds in under 15 seconds and at lower costs than traditional wires.
“After implementing Real-Time Payments, we saved an estimated 10 hours per week and reduced wire costs by 83%,” Miller said. While Real-Time Payments are still in their pilot phase, they have provided multiple benefits for Hunt, including:
"We’re excited about the potential of this brand-new tool. With Real-Time Payments, there’s no more waiting. I just hope the rest of the commercial real estate industry adopts this technology." — David Miller, Treasurer and Senior Vice President at Hunt Companies
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