J.P. Morgan, NTT Data Partner on Japan Treasury Solutions

J.P. Morgan Treasury Services (New York) is teaming with IT services and solutions provider NTT Data Corp. to offer cross-border payments solutions to local banks in the Japanese market.

At the heart of this partnership, local Japanese banks will be able to send online transactional instructions for treasury services requests to J.P. Morgan through NTT DATA's ASP platform, a web-based delivery channel between local banks and their customers. The live solution enables banks to send requests without any data re-entry, resulting in cost savings and enhanced risk controls, and yielding process efficiency improvements. Future phases of development will provide broader capabilities and scope of services.

In the financial sector, NTT Data is developing and operating cross-industry and shared-use network systems helping its customers optimize their business efficiency. NTT DATA also provides various IT services and solutions to a range of financial customers.

Ricky Kaura, managing director and treasury services Japan business executive with J.P. Morgan said in a statement that NTT was the obvious choice for such a solutions and that many clients will experience little if any change to leverage the capability.

"NTT Data Corporation was an obvious choice, bringing together two leading powerhouses and providing innovative solutions for our clients," Kaura noted. "The partnership leverages the advanced technologies of both institutions, providing a seamless and fully automated linkage to J.P. Morgan's treasury services' global architecture and the Tokyo Dollar Clearing System."