J.P. Morgan’s Treasury Services business, a full-service provider of cash management, trade finance and treasury solutions, today announced it was ranked first in ACH payments origination for 2010, according to NACHA, The Electronic Payments Association. J.P. Morgan continues to be the industry leader in ACH payments having held the top ranking for 36 consecutive years.
NACHA annually compiles the list of the top 50 originating and receiving financial institutions of ACH payments. According to NACHA, rankings are determined by computing all ACH-formatted transactions that financial institutions sent to or received from an ACH Operator or directly to or from another financial institution. ACH-formatted transactions remaining within a single institution -- known as “on-us” payments -- are excluded from the top 50 results.
“Our continuing leadership in ACH originations is evidence of our strong commitment to supporting our clients’ payment needs,” said Pat Thelen, executive director, J.P. Morgan Treasury Services. “J.P. Morgan’s fully scalable platform, advanced electronic systems and proprietary software continue to set the industry standard for quality in ACH products and services. We are constantly raising the bar on efficiency, with the goal of helping our clients further streamline their payment processes.”
As a result of growth in the firm’s retail business and depository receipts, J.P. Morgan saw its “on-us” transaction volume grow by 10 percent year-over-year in 2010. While these transactions are not tracked by NACHA, they are further indication of the strength of the bank’s ACH business.
Investing for the Future
J.P. Morgan continues to expand its support of the entire electronic payments cycle for clients through a multimillion dollar infrastructure investment. “We’re making the necessary investments to allow our clients’ to take full advantage of the increased efficiencies brought about by changes and innovations occurring across the ACH industry,” added Thelen. “We believe this commitment is critical as we prepare for key growth opportunities in areas such as healthcare, business-to-business and peer-to-peer payments.”
J.P. Morgan also continues to enhance its fraud protection offerings and remains a champion of “Go Green” solutions that encourage electronic payment processes which deliver cost-saving efficiencies and positive environmental impacts.
J.P. Morgan to Participate at Payments 2011 Conference
J.P. Morgan will have a strong presence at the Payments 2011 conference in Austin, Texas, April 3-6. The event, sponsored by NACHA, will feature nine J.P. Morgan executives who will share their perspective, best practices and industry insights on a wide range of critical topics during educational sessions scheduled as part of the four-day program.
For more information on J.P. Morgan Treasury Services, visit: www.jpmorgan.com/ts.
About J.P. Morgan Treasury Services
J.P. Morgan's Treasury Services business is a full-service provider of innovative cash management, trade, liquidity, commercial card and escrow services -- specifically developed to meet the challenges treasury professionals face today. More than 135,000 corporations, financial institutions, governments and municipalities in over 180 countries and territories entrust their business to J.P. Morgan. J.P. Morgan Treasury Services is one of the world's largest providers 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
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 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 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 and Chase brands. Information about the firm is available at www.jpmorganchase.com.
Aurora Johnson, +1-626-359-0732