The Philippines telecommunications Network is one step closer to becoming a world-class treasury organization after being the first in the world to adapt and implement J.P Morgan's Real-time Treasury (RTT) application programming interface.
The J.P Morgan's Real-Time Treasury application is a plug-and-play service. Considered as one of the best practices of the global treasury with its fully automated routine processing.
The RTT application allows the telecommunication network to gain access to customers' bank information, track their wire transactions and their cross-border payments, all in real-time. By incorporating SWIFT'S Global Payments innovation (GPI), with J.P Morgan's API and SAP Fiori, it enables actual payment tracking that provides Globe with a single source and access to payment information in real-time.
“We are proud to be the first company in the world to implement this solution. Definitely, it saves us a lot of time and allows us to do treasury operations more efficiently. We no longer have to rely on our banking partners to provide a statement once a day for visibility over our transactions. It also allows us to track payments easily, real time instead of using an e-banking portal, manually entering payment references or calling banks directly,” Ma. Fatima Cinco said Globe’s Director for Treasury.
In addition, the RTT technology provides an efficient operation as it automates the treasury and the disbursements function's administrative work. The advanced technology can practice certain functionality for payment tracking such as
application to support digital infrastructure, and real-time treasury.
“The solution is highly adaptable and can be easily integrated into a client's unique ERP environment. For Globe, the solution took less than two weeks to set up with no IT investment and minimal resources required,” Alan Lin, the Head of Core Cash Management for Wholesale Payments in the Asia-Pacific at J.P Morgan, said.
Source: Globe PH