J.P. Morgan Offers Baltic, Nordic Countries Payable and Receivable Services

J.P. Morgan Treasury Services, the commercial payment arm of JPMorgan Chase, on Wednesday announced it has expanded its payables and receivables capabilities in Europe's Baltic and Nordic regions.

The expansion brings capabilities for both urgent payments and non-urgent local automated clearinghouse channels, which can process card transactions, to the region. The addition now gives the firm's clients domestic clearing capabilities in 20 countries.

"The model is ideal for larger organizations based outside the Baltics or Nordics who actively trade there," Alex Caviezel, head of J.P. Morgan Treasury Services in Europe, Middle East and Africa, said in a statement. "The solution simplifies the task of managing multiple bank accounts and bank relationships, enabling clients to manage their funds conveniently on a London-based account."

J.P. Morgan Treasury Services said it also is investing to make such enhancements as improved reporting, later cut-off times and enhanced local ACH connectivity in Italy, Switzerland and the United Kingdom.