Interactive Brokers shares jump as it secures spot in S&P 500
NEW YORK - FedEx is implementing J.P. Morgan Payments’ Supply Chain Finance (SCF) solution integrated with Oracle Fusion Cloud Enterprise Resource Planning (ERP) to transform its working capital management, according to a press release statement. J.P. Morgan, with its robust market capitalization of $823.89 billion and strong financial health score rated "GOOD" by InvestingPro, continues to strengthen its position as a prominent player in the banking industry.
The new solution incorporates J.P. Morgan Payments’ SCF functionality directly within Oracle Cloud ERP via Oracle B2B, allowing FedEx to configure the system natively rather than implementing a custom solution. This integration reduced what would typically be a six-month development project to a simple activation and setup process.
The system allows FedEx vendors to choose between waiting for payment on extended terms or receiving early payment through J.P. Morgan Payments at financing rates based on FedEx’s credit rating.
"Collaborating with J.P. Morgan Payments and Oracle to build a solution has been transformative for our working capital management," said Trampas Gunter, CVP Corporate Development and Treasurer at FedEx.
Additionally, FedEx has implemented a liquidity management strategy using J.P. Morgan Payments’ Liquidity & Account Solutions and Kinexys blockchain solutions. The company is utilizing Kinexys Digital Payments to enhance liquidity management across notional pools in Europe and Asia Pacific.
J.P. Morgan Payments and Oracle have collaborated since 2022 to integrate treasury and trade solutions within Oracle Cloud ERP, providing dozens of mutual corporate clients with enhanced user experience and automated processes.
The J.P. Morgan Payments platform processes more than $10 trillion in payments daily, operating in over 160 countries and 120 currencies. According to the company, over $1.5 trillion in transaction volume has been processed on the Kinexys by J.P. Morgan platform, which handles an average of over $2 billion in daily transactions. The bank’s impressive operational scale is reflected in its financial performance, with revenues reaching $163.65 billion in the last twelve months and a remarkable 44% stock return over the past year. For deeper insights into J.P. Morgan’s financial metrics and growth potential, including exclusive ProTips and comprehensive analysis, visit InvestingPro.
In other recent news, JPMorgan Chase has announced a strategic partnership with Coinbase, aiming to expand cryptocurrency access options for their mutual customers. This collaboration will introduce features such as a direct bank-to-wallet connection, enabling Chase customers to link their bank accounts to Coinbase wallets through a secure API. Additionally, Chase Ultimate Rewards points can now be transferred to Coinbase accounts at a one-to-one redemption ratio, and customers have the option to fund Coinbase accounts using Chase credit cards. In another development, JPMorgan Chase, in partnership with the Independent Restaurant Coalition, has launched a $4 million grant program to support independent restaurants and bars across the United States. This initiative includes the IRC and Chase Innovator Awards and the IRC and Chase Disaster Relief Fund. Furthermore, JPMorgan Chase has appointed Mike Lister and Brennan Spry as co-heads of North America corporate banking to bolster its Commercial and Investment Banking unit. Meanwhile, Yerbol Orynbayev, former Deputy Prime Minister of Kazakhstan, has called for the Federal Reserve to tighten its annual bank stress tests to prevent potential financial instability.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.