One of the world’s largest auto manufacturers, this company employs almost a quarter of a million people worldwide. It designs, engineers, manufactures and sells vehicles. It also sells vehicle-related parts, services, components and production systems worldwide. The company has relationships with dealers and distributors in more than 150 countries.
The group launched a request for proposal in 2013. The aim was to standardize its payment processes in North America, eliminate manual local operation tasks, improve controls and reduce the number of banking relationships.
A key requirement was to manage one single file format and one single process to operate across North America.
In Mexico, it is common for corporations to operate on a decentralized model using local electronic banking web platforms which requires each user to have a token to sign in to an internet application and manually upload payment files. If the token is not stored in a safe place, the possibility exists that a manually-uploaded payment file could be altered by a user. J.P. Morgan is offering a host-to-host payment service reducing or eliminating manual intervention and improved treasury controls and efficiencies.
A global coordinated effort between our US and Mexico teams and a focus on client service were key in developing a bespoke solution for the client.
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