J.P. Morgan Payments have announced new and enhanced product integrations within the Oracle ecosystem.
These integrations are designed to streamline payments across treasury, trade, and commerce for mutual corporate clients, according to FF News.
The partnership between J.P. Morgan Payments and Oracle began in 2021 and has focused on delivering enhanced functionality and seamless connectivity for their shared clients.
Building on the success of their earlier collaboration, including the integration of J.P. Morgan Payments’ Banking Services into Oracle Fusion Cloud ERP in 2022, this latest update aims to simplify payment processes, allowing businesses to focus on growth.
J.P. Morgan Payments provides a comprehensive suite of treasury services, trade finance, card, and merchant services to help businesses process payments globally.
The firm processes nearly $10tn in payments daily and operates in over 160 countries. Oracle is a leading provider of cloud applications and infrastructure services, with its AI-driven Oracle Fusion Cloud ERP platform helping businesses automate processes across finance and other key operations.
The new product integrations include real-time cash balance visibility, the ability to create expense reports using near real-time transaction data, supply chain finance optimisation, and improved in-store payment processing through Oracle’s Simphony and Xstore products.
These solutions aim to help corporate treasury teams, streamline expense management, and support businesses across multiple industries, including retail and food and beverage.
The integrations have been made available to corporate clients after successful pilots, enabling them to enhance operational efficiencies and optimise payment strategies.
Details about the integrations are available through the J.P. Morgan Payments Partner Network, which combines J.P. Morgan’s solutions with third-party integrations, helping businesses to deploy them quickly and efficiently.
A notable example of these integrations is Avis Budget Group, which has benefited from J.P. Morgan Payments’ Banking Services integration with Oracle Fusion Cloud ERP.
“Being able to leverage the banking integration between J.P. Morgan Payments and Oracle Fusion Cloud ERP is an exciting opportunity. With the pre-configured setup, we aim to enhance our workflows along with streamlining our reconciliation process. The enhanced acknowledgments and Oracle managed certificates are an added benefit,” Avis Budget Group said.
Rondy Ng, executive vice president of applications development at Oracle, said, “By embedding turnkey bank connectivity, payments and working capital options within our AI-driven Oracle Fusion Cloud ERP, we’re delivering continuous innovation that matters to our customers. The J.P. Morgan and Oracle partnership enables our mutual clients to achieve touchless transactions, gain cash insights, and connect actions across finance and the business.”
Hubert J.P. Jolly, head of digital & design at J.P. Morgan Payments, said, “We’re thrilled to expand our Oracle partnership with new integrations that enhance functionality and streamline operations for our clients. Combining Oracle’s technology with our secure ecosystem empowers clients to create integrated payment experiences and accelerate business growth.”
J.P. Morgan Payments and Oracle are expected to introduce additional product integrations as market needs and client demands evolve.
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