J.P. Morgan Payments is integrating with Oracle Cloud Enterprise Resource Planning as one of the launch partners in Oracle's new B2B Commerce platform, Oracle announced on Wednesday.
The integration will enable Oracle and J.P. Morgan's mutual customers "to gain seamless access to J.P. Morgan Payments' offering, including improved cash flow insights and helping to accelerate business transactions," J.P. Morgan payments global co-head of corporate and e-commerce sales Hubert J.P. Jolly said in a statement. Customers can integrate their J.P. Morgan Payments tools into Cloud ERP within hours, a process that previously required weeks of technical integration, and automate processes around funds capture, cash disbursement and credit card processing, according to Oracle.
Specifically for J.P. Morgan card customers, the integration offers a "new touchless mobile experience," in which the ERP receives authorization data in almost real time when cards are charged, which in turn can record, automize and audit business expenses automatically. That eases the approval process and accelerates reimbursement, according to Oracle.
For the platform, Oracle plans connections to other financial services firms as well as insurance companies and delivery services "to digitize the entire B2B commerce process for mutual customers," according to Oracle. Alongside J.P. Morgan Payments, Oracle announced FedEx as an initial partner, through which customers can get rate quotes and shipping and tracking capabilities through the ERP.