J . P . MORGAN PAYMENTS
“ Here at J . P . Morgan Payments , we have built our virtual solutions platform in-house , which makes it more flexible , and we are continuing to invest in it to suit our clients ’ needs ”
MICHAEL BRADY EXECUTIVE DIRECTOR OF LIQUIDITY AND ACCOUNT SOLUTIONS , J . P . MORGAN PAYMENTS
“ The world of Treasury has shifted and is rapidly moving towards real-time to reduce capital buffers and create operational efficiencies . APIs are a tool that is driving this evolution ,” says Brady .
“ In a rapidly changing economic environment with elevated rates , the benefit of having real-time insights into cash positions is invaluable , and the flexibility the APIs provide will be transformative .
“ APIs are really the present and the future . Where we see the biggest challenge is with the understanding of APIs and how powerful they can be in a company ’ s treasury transformation journey .”
APIs are on a rapidly evolving journey with the ability to monitor and initiate payments in real-time to transform Treasury . All of this of course comes with a cost , particularly when working in a legacy technology environment . The technology investment and resources need to be carefully taken into consideration , but the adoption of APIs is becoming more and more streamlined and may be easier and more powerful than some Treasurers realise .
Of course , Treasurers are rightly concerned with cost when it comes to capital expenditure on new technology , and while virtual solutions are not new , there has been an increased focus and investment in them thanks to the cost benefits they can bring . Brady , however , believes there is a bigger picture to consider .
“ When it comes to virtual solutions , the number-one driver from clients is cost reduction as a result of account rationalisation ,” he says . “ Can there be a cost benefit ? Sure , but we encourage clients to think more broadly . What is the art of the possible ? If you could have the
66 February 2024