A global aluminum company based in Europe. It currently uses J.P. Morgan for their BRL liquidity and core cash management needs for all entities in Brazil.
Clearing houses in Brazil do not allow invoice information to flow from the originator to the beneficiary bank, creating additional challenges to reconciling payments and receivables.
Services were tailored to meet client specific local needs:
"The original mandate on 2013 focused exclusively on payments and liquidity. Following a coordinated joint effort by local and global teams, we are currently centralizing all the client’s receivables, both onshore and offshore."
Full reconciliation of BRL payments was key for the client to centralize BRL balances in J.P. Morgan.
Automatic and improved standard process for payments, as well as cross-company liquidity management, as operating balances were previously on a non-interest bearing DDA.
J.P. Morgan is the marketing name for the Treasury Services business of JPMorgan Chase Bank, N.A. and its affiliates worldwide.
The products and services described in this document are offered by JPMorgan Chase Bank, N.A. or its affiliates subject to applicable laws and regulations and service terms. Not all products and services are available in all locations. Eligibility for particular products and services will be determined by JPMorgan Chase Bank, N.A. or its affiliates.
JPMorgan Chase Bank, N.A. at its London Branch is authorised by the Office of the Comptroller of the Currency in the jurisdiction of the U.S.A. Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and to limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request (Firm Reference Number: 124491)
JPMorgan Chase Bank, N.A. (Johannesburg Branch) is an Authorized Financial Services Provider (FSP No. 7795). An external company registered in South Africa with the registration number 2001/016069/10.
Registered in South Africa as a branch of a foreign bank, JPMorgan Chase Bank, N.A. and operates under a banking license and is regulated by the South African Reserve Bank.
All complaints must be directed to Compliance on firstname.lastname@example.org
Details of FAIS Ombud
Office of the FAIS Ombudsman
Name: The Ombud for Financial Services Providers
Postal Address: PO Box 74571, Lynnwood Ridge, 0400
Telephone number: 012 762 5000 / 012 470 9080
Facsimile number: 012 348 3447
Email Address: email@example.com
For Brazil: Ombudsman J.P. Morgan: 0800-7700847 / firstname.lastname@example.org