J . P . MORGAN
Impressive credentials underline J . P . Morgan ’ s scale “ We operate with in-country presence in 16 markets ,” Jang says . “ We support 18 markets from a client segment standpoint within Asia .”
And then of course they move their flows on a global basis . In APAC alone , the Payments business operates hubs in Manila and Mumbai , which facilitate some of the treasury services and trade processing that J . P . Morgan carries out on behalf of its clients .
J . P . Morgan is regarded as the number one US dollar clearing bank globally , processing almost US $ 10tn a day in payments .
With such large volumes at stake , the company is keenly aware of its responsibilities around cybersecurity and protecting clients ’ money . “ That cybersecurity aspect is very critical and in our connections with all the banks , that ' s one of their key priorities – to have not just a trusted partner who innovates , but the ability to
execute securely ,” Jang says . “ That ' s very critical , particularly in Asia where you ' ve got a lot of central banks as well as regulators and a complex landscape .”
Sheer volume means cyber becomes key focus That duty of care comes with expected levels of best practice : large financial institutions and emerging fintechs alike expect their partners to act impeccably , particularly when it comes to complying with legal and regulatory obligations or safeguarding systems from attack . “ While we do share best practices , we also expect the same in terms of the companies [ that we partner with ] actually adhering to certain standards . It ' s really to protect the entire community .”
When she looks at how J . P . Morgan is likely to invest its resources in the future , Jang says : “ We have to keep developing , and there has to be a cyber component that we continue to invest in . On blockchain , the use cases will continue and we ' ve leveraged Confirm as one of our applications for banks , non-bank financial institutions , corporates and fintechs to use .
“ We also just recently had the announcement with VISA B2B , who will be leveraging Confirm to facilitate their payment flows cross-border as well .”
When you ’ re working at such an astronomic level , it takes some bright-shining stars to inspire you . Within J . P . Morgan , Jang says she looks up to Takis Georgakopoulos , the Global Head of J . P . Morgan ’ s Payments division . “ He was previously my boss when he ran the MNCs Corporate Banking business , and brings a unique strategic background to his current role . His vision of bringing together four discrete businesses under a single Payments umbrella is what differentiates us today , enabling the bank to provide end-to-end pay-in , pay-out cash management and trade finance capabilities to our clients . Today , we process almost US $ 10tn in
“ THE CYBERSECURITY ASPECT IS VERY CRITICAL
AND IN OUR CONNECTIONS WITH ALL THE BANKS , THAT ' S ONE OF THEIR KEY PRIORITIES ”
CHRISTINE ( JANG ) TAN HEAD OF FIG SALES APAC , J . P . MORGAN PAYMENTS
26 fintechmagazine . com | June 2023