
Global finance services giant J.P. Morgan is launching its AI-powered invoice reconciliation service in the Philippines this May, according to a report from PhilStar Global.
Aside from the Philippines, the service will also roll out across the Association of Southeast Asian Nations (ASEAN), as well as in Hong Kong, Australia, and New Zealand.
Max Neukirchen, Global Co-Head of Payments at J.P. Morgan, recognized that the Philippines is a priority market for its Asia-Pacific payment innovation strategy, particularly due to the rapid digital adoption in the financial technology (fintech) industry.
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Neukirchen also said that the solution has already been successful in India, where it improved the client’s cash conversion cycles by 50% and unlocked $1.1 million in working capital.
With the rise of AI technology in various industries, the AI-powered invoice recon tool aims to help organizations streamline their processes, saving time and resources.
J.P. Morgan remains committed and maintains a strong partnership with top financial institutions in the Philippines, including the Bank of the Philippine Islands (BPI), BDO Unibank Inc., and UnionBank of the Philippines.
This article, J.P. Morgan’s AI-powered invoice reconciliation service is coming to PH, was originally published at NoypiGeeks | Philippines Technology News, Reviews and How to's.
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