Philippine telecommunications leader Globe became the first company in the world to adopt and implement J.P. Morgan’s real-time treasury (RTT) application programming interface, bringing it a step closer to becoming a ‘world class treasury organization’.
The plug-and-play service is considered as among the best in global treasury practices, with fully automated routine processing.
The real-time treasury application allows Globe to access bank information, track wire transactions and cross-border payments in real time. The integration of SWIFT’s Global Payments Innovation (GPI), J.P. Morgan’s API and SAP Fiori enables actual payment tracking and provides Globe with a single source and real-time access to payment information.
“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.
The RTT technology also provides operations efficiency as it automates a part of the treasury and disbursements function’s administrative work. With advanced technology and supporting digital infrastructure, real-time treasury functionality is now practiced when it comes to payment tracking.
“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,” said Alan Lin, Head of Core Cash Management for Wholesale Payments in the Asia-Pacific at J.P. Morgan.