A global aluminum company based in Europe. It currently uses J.P. Morgan for their BRL liquidity and core cash management needs for all entities in Brazil.
Brazil Landscape
Clearing houses in Brazil do not allow invoice information to flow from the originator to the beneficiary bank, creating additional challenges to reconciling payments and receivables.
The J.P. Morgan Solution
Services were tailored to meet client specific local needs:
"The original mandate on 2013 focused exclusively on payments and liquidity. Following a coordinated joint effort by local and global teams, we are currently centralizing all the client’s receivables, both onshore and offshore."
Elisabete Marchesini
Brazil Treasury Services Coverage
Full reconciliation of BRL payments was key for the client to centralize BRL balances in J.P. Morgan.
Automatic and improved standard process for payments, as well as cross-company liquidity management, as operating balances were previously on a non-interest bearing DDA.
J.P. Morgan is the marketing name for the Treasury Services business of JPMorgan Chase Bank, N.A. and its affiliates worldwide.
The products and services described in this document are offered by JPMorgan Chase Bank, N.A. or its affiliates subject to applicable laws and regulations and service terms. Not all products and services are available in all locations. Eligibility for particular products and services will be determined by JPMorgan Chase Bank, N.A. or its affiliates.
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Details of FAIS Ombud
Office of the FAIS Ombudsman
Name: The Ombud for Financial Services Providers
Postal Address: PO Box 74571, Lynnwood Ridge, 0400
Telephone number: 012 762 5000 / 012 470 9080
Facsimile number: 012 348 3447
Email Address: info@faisombud.co.za
Website: www.faisombud.co.za
For Brazil: Ombudsman J.P. Morgan: 0800-7700847 / ouvidoria.jp.morgan@jpmorgan.com