JP Morgan picks Taulia for supply chain finance boost
JP Morgan has signed a technology partnership with Taulia, a provider of cash flow and trade finance management solutions.
The partnership will aim to create a “unique and differentiated” trade finance and payments solution for JP Morgan clients, as well as give them the ability to onboard suppliers “of all sizes”.
The bank will use Taulia technology, as well as data and analytics services, to optimise its corporate supply chains.
“We’re always looking for impactful ways to enhance the client experience within wholesale payments and that’s been proven by our various investments over the last three years – from acquisitions to strategic alliances like what we’re doing with Taulia,” says Takis Georgakopoulos, global head of wholesale payments at JP Morgan.
“With Taulia, we’re better positioned to serve our clients for the long term, allowing them to inject and redeploy liquidity to their suppliers, ensuring continued operations during this challenging time.”
Headquartered in San Francisco, Taulia claims that a network of 2 million businesses use its technology and that it processes over $500 billion every year. Its clients include Airbus, Nissan, and Vodafone.
Cedric Bru, CEO at the firm, says that it will be able to offer the US bank a “game-changing” solution for trade finance.
He adds: “Our mission is to allow businesses to thrive by having access to cash in a predictable and cost-effective manner. This strategic alliance further strengthens our purpose.”