Financial services firm JPMorgan is spending £15m on implementing a central platform to support its global treasury...
management and liquidity services.
The company says this core banking system will enable it to offer consistent services across the world, delivering richer data and real-time reporting to clients.
Work has begun on deploying the platform, with pilot schemes planned later this year.
JPMorgan will work with Temenos, a global provider of banking software systems, to implement the platform. It is planning further technology investments to support international expansion.
Sue Webb, executive vice-president for global core cash management at JPMorgan Treasury Services, said, "The global marketplace is where we expect to see significant growth in our business, and having the most robust technology capabilities will be key."
JPMorgan will use Temenos' T24 Model Bank, which includes preconfigured products and processes.