J.P. Morgan Treasury Services says it is now offering a mobile application that lets clients using the bank’s ACCESS cash management platform view cash balances, transaction details and customizable alerts. The mobile app, available worldwide, provides a “quick decision” feature that allows users to take into account anticipated transactions to calculate projected cash balances. J.P. Morgan says it is working on enhancements to the app, including the ability to approve wire payments.
BNY Mellon says it has launched an application, TreasuryEdge Mobile, that allows clients to manage banking transactions and information reporting using an iPad. TreasuryEdge Mobile lets clients approve payments and confirm that payments have been processed, make intra-company transactions and create reports on their accounts. BNY says that once it gets feedback on the application, it will consider a version for mobile phones.
Bank of America Merrill Lynch says that it will add chip and PIN technology to its corporate cards for U.S. executives who travel overseas, a move that the bank says reflects demand from its customers. B of A notes that it added such technology, also known as EMV, last year to its corporate cards in Europe. EMV technology, the dominant standard outside the U.S., is regarded as more secure than the magnetic stripes used on U.S. credit cards. Last summer, Visa announced that it will move to the EMV standard in the U.S.
Citi says it has enhanced its spend management tool, Citi Working Capital Analytics, by adding tools that help identify which company suppliers might be willing to accept payment via virtual cards—a payment solution that involves a 16-digit account number but not an actual plastic card. Using virtual cards can increase working capital and also offer process efficiencies, the bank says.
DB Advisors, the institutional money management unit of Deutsche Bank, has rolled out new money market reporting capabilities. Investors can now analyze duration contribution by country or by sector and look at such factors as credit and liquidity support and variable-rate demand obligation support, DB Advisors says. DB Advisors has more than $180 billion in fixed-income assets.