J.P. Morgan is the first global bank to sign up for MyStandards. This is SWIFT’s new, collaborative web-based application designed to facilitate the management of global standards and related market practices across the financial industry.
J.P. Morgan was a member of SWIFT’s pilot programme for the solution, beginning in June of last year. The bank initially plans to use MyStandards for corporate cash management that will encompass all message types used by clients of the bank, including MT and MX messages, as well as payment initiation and statements.
Robert Blair, managing director, J.P. Morgan Treasury Services says: “Through our experience with the MyStandards pilot we’ve seen firsthand the benefits available, specifically for cash management, and are pleased that both J.P. Morgan and our clients will benefit from this new tool. By providing a straightforward way for our customers to access standard usage information we are enabling improved efficiency.”
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