AccessFintech has extended its partnership with J.P. Morgan to launch real-time payment statuses for the buy side.
This will include real-time transparency to payment statuses and workflow for dividend, income and cash wire movements.
The offering provides market statuses and enhanced commentary from J.P. Morgan on payments, including action ownership to establish responsible party for issue resolution.
The solution includes bi-directional workflow so buy-side clients can communicate with J.P. Morgan directly from the AccessFintech dashboard.
Meanwhile, the solution allows buy-side clients to remain within the AccessFintech dashboard for transaction management, which reduces the need to monitor multiple internal tools and custodian portals.
Roy Saadon, co-founder and CEO of AccessFintech, said: “With the additions of these new, important enhancements, the market can further optimise and streamline burdensome processes with a truly real-time view of their workflow. AccessFintech’s mission is to make financial institutions more efficient and to reduce costs. We look forward to working with the innovative J.P. Morgan team on delivering further streamlining benefits to their clients.”
Naveen TV, managing director at J.P. Morgan Securities Services, commented: “Lack of real-time statuses on payments has been a key challenge for buy-side clients, especially with increased pressure on real-time cash forecasting.’’
TV added: “This new functionality on AccessFintech coupled with J.P. Morgan’s industry leading operating model will help clients provide real-time insights into the status of payments, enabling better cash forecasting. AccessFintech has become an important resource for providing buy-side clients with real-time transparency to transaction data and workflow.”
