JTC choose BankClarity for global banking hub solution
BankClarity has completed a 5 year agreement to extend their hub technology to JTC Group.
BankClarity, the integrated banking and treasury hub for multi-banked global fund & corporate service providers, has completed a 5 year agreement to extend their hub technology to JTC PLC, the leading FTSE 250 global professional services business.The agreement extends JTC’s global banking hub solution to allow them to manage up to 100,000 payments per annum, currently achieving over 95% integration with banking partners and providing centralised cash management, foreign exchange and controls for all banking and payments activities to the JTC client base.
Integration with client administration and accounting systems and banking providers has enabled straight-through processing efficiencies of over 75% and a 90% reduction in error rates, and is core to JTC’s strategy to create a single banking payments and treasury platform. The strategic partnership strategy is aimed at creating additional capacity for providing unique value-added services to JTC clients around the globe whilst materially enhancing controls around the sensitive activity of handling high volumes of cross-border payments.
Adam Jeffries, Group Chief Information Officer:
“At JTC, we have a real focus on implementing smart digital solutions to enable our skilled workforce and we have already realised significant benefits for our clients in our partnership with BankClarity; I am delighted we can now extend these benefits to more of our global portfolio in the coming years, as we continue to grow. This further cements the longstanding partnership we have with BankClarity, with excellent relationships in place with them across many areas of our business and they remain a core part of our ongoing strategic planning.”
Aidan McAvinue, Chief Executive of BankClarity:
“JTC are incredibly focused on client outcomes and our partnership is an exceptional use-case for the industry given the efficiencies, risk controls, and buying power that arises from the use of this technology by highly effective teams. We are truly excited to have the confidence of a FTSE 250 business and leader in this sector for such a long period given the pace of change in this industry.“
JTC is a publicly listed, global professional services business with deep expertise in fund, corporate and private client services. Every JTC person is an owner of the business and this fundamental part of our culture aligns us with the best interests of all of our stakeholders. Our purpose is to maximise potential and our success is built on service excellence, long-term relationships and technology capabilities that drive efficiency and add value. www.jtcgroup.com
BankClarity is at the forefront of digital transformation in cross-border financial services. We provide a global Banking Hub as a single interface for all transactional and treasury activity for firms that manage multi-party, multi-banked, cross-border financial transactions. Fully integrated with accounting systems and leading banks, BankClarity serves some of the world's most complex and heavily regulated global institutions. www.bankclarity.com