J.P. Morgan and NTT Data Corporation Partner to Provide Treasury Solutions to Financial Institutions in Japan
Hong Kong, August 14, 2009 - J.P. Morgan announced its partnership with NTT DATA Corporation to provide local financial institutions in Japan with an integrated and automated platform for cross-border payment. This end-to-end solution further demonstrates J.P. Morgan's long-term commitment to the Japan market as well as its innovative approach to meeting its clients' needs.
At the heart of this partnership, local Japanese banks will be able to send online transactional instructions for treasury services requests to J.P. Morgan through NTT DATA's ASP platform, an easy-to-use web-based delivery channel between local banks and their customers. The live solution enables banks to send requests without any data re-entry, resulting in cost savings and enhanced risk controls, and yielding process efficiency improvements. Future phases of development will provide broader capabilities and scope of services.
NTT DATA Corporation is Japan's largest system integrator, with strengths in development of public infrastructure and other large-scale systems. In the financial sector, NTT DATA is engaged in the development and operation of cross-industry and shared-use network systems helping its customers optimise their business efficiency. NTT DATA also provides a various IT services and solutions to a wide range of financial customers.
Simon Jones, head of J.P. Morgan's Treasury Services in Asia Pacific said: "J.P. Morgan is delighted to be working with NTT DATA Corporation on this important project. Our shared objective is to deliver solutions to respond to the evolving needs of our clients, particularly in today's economic environment where cost reduction and risk mitigation are important drivers".
Ricky Kaura, managing director and Treasury Services Japan business executive added: "NTT DATA Corporation was an obvious choice, bringing together two leading power-houses and providing innovative solutions for our clients. The partnership leverages the advanced technologies of both institutions, providing a seamless and fully automated linkage to J.P. Morgan's treasury services' global architecture and the Tokyo Dollar Clearing System." Kaura adds that "Clients are already reaping benefits, and there has been strong interest. For the vast majority of our clients, there will be little to no change required to leverage this advanced capability, which we know is an important factor for them."
In announcing this partnership, Ken Tsuchihashi, executive manager and head of First Sales Strategy Planning section at NTT DATA's Financial IT Services division said: "We chose to partner with J.P. Morgan due to its strong position in Japan and other Asian countries as well as its outstanding reputation as a reliable provider of international payments."
J.P. Morgan provides a wide range of cash management and trade finance services in Japan, and has operated the high profile and well established Tokyo Dollar Clearing (TDC) system for more than two decades. J.P. Morgan is the world's largest U.S. dollar clearing bank, and its consistent and disciplined approach to managing its balance sheet has enabled the bank to become the transaction processing bank of choice for many corporations, financial institutions and non-bank financial institutions in Japan.
About J.P. Morgan Treasury Services
The Treasury Services business of J.P. Morgan is a top-ranked, full-service provider of innovative payment, collection, liquidity management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and a presence in 39 countries, J.P. Morgan Treasury Services is one of the world's largest provider of treasury management services and a division of JPMorgan Chase Bank, N.A., member FDIC. More information can be found at www.jpmorgan.com/ts.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.0 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan, Chase, and WaMu brands. In Asia Pacific, J.P. Morgan operates through 25 offices in 15 countries and has developed its wholesale banking franchise during a history of almost 160 years in the region. More information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
About NTT DATA CORPORATION
NTT DATA CORPORATION has been one of the leading providers of IT services and solutions in Japan. Offerings include consulting, systems integration and IT outsourcing, for major financial, public administration and enterprise sectors. NTT DATA Group rapidly expands its business overseas providing high quality IT solutions and consulting services to customers worldwide. NTT DATA Group has established global support network that covers 60 cities in 21 countries worldwide. More information about NTT DATA CORPORATION is available at www.nttdata.co.jp/en/.