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JP Morgan Expands Treasury Services Business Into Brazil

To meet the cash management needs of companies in Brazil, as well as multi-nationals wanting to do business in the region

JP Morgan’s Treasury Services business, a full-service provider of cash management, trade finance and treasury solutions, has made its services available locally to clients in or doing business in the Brazilian marketplace.

Reportedly, the bank has also introduced its web-based cash management tool, JP Morgan Brasil Online. This online banking portal offers security, along with access to data and transaction information that can be integrated directly into clients’ ERP systems. The portal is presented in Portuguese and is customized to provide payment initiation, authorization, reporting and file management that meets Brazilian market practices and regulatory requirements.

JP Morgan has said that the products and services are offered by Banco JP Morgan, and logistics products and services are offered by JPMorgan Chase Vastera do Brasil Serviços de Comercio Exterior. Moreover, JP Morgan plans to further expand its services across the Latin-America region.

JP Morgan Brazil also offers some of the capabilities, that include:

DDA in Reais – provides local businesses with functionality to transact domestic payments and credits, including DDA balances reflecting transaction settlement schedules, debit consolidation and zero balance management and electronic statements in the Febraban CNAB standard.

Foreign Exchange (FX) Services – provides FX and cash management structures that enable FX spot transactions, multi-currency FX in US Dollars, Euros, Pounds and Yen, settlements in either same day or up to two days after FX closing.

Trade Finance Services – offers supply chain solutions and logistics services for importers and exporters including import and export financing, local guarantees and logistics support.

Escrow Services – provides escrow services to support a variety of activities and transactions, acts as a neutral third party to hold and safeguard assets on behalf of contracting parties and invests assets in accordance with instructions.

Depositary Receipts (ADR Services) – allows clients to attract investments around the globe, take advantage of a single depositary bank with a ‘cross-book’ to facilitate investment in DR programs and support their liquidity.

Mike McKenzie, managing director and Latin America regional executive, JP Morgan Treasury Services, said: “We are pleased to introduce our treasury management solutions locally to Brazil because it allows us to better support our clients in the rapidly growing Latin-America region. As a result of this expansion of service, JP Morgan will be able to meet the cash management needs of companies in Brazil, as well as multi-nationals wanting to do business in the region, by providing local capabilities and regional expertise.”

Leonardo Lima, managing director and Latin-America product executive, JP Morgan Treasury Services, said: “We have put together a dedicated team including local sales and customer service staff that fully understands the nuances of Brazil’s unique cash management environment, allowing us to offer a best-in-class client experience.”