Fintech
AutoRek Joins JPMorgan Payments to Enhance Insurance Processing
Darren Snoxell, Head of Insurance, EMEA at JPMorgan Payments, expressed his excitement about the partnership. He said: “We are excited to partner with AutoRek to help our clients address some of the challenges associated with complex premium processing and money allocation.
“Partnering with a specialist company like AutoRek will complement our existing solutions, helping to provide an end-to-end solution across the entire insurance value chain.
“Together, we will deliver tangible benefits to brokers, carriers, reinsurers, multinational insurance programs, captives and across the London market. We look forward to working with the team.”
JPMorgan Payments Extended Services
JPMorgan Payments, a division of JPMorgan Chase & Co., offers a broad range of financial services to meet the needs of businesses globally. As a leader in financial services, JPMorgan Payments provides innovative solutions tailored to small businesses, mid-market companies and large multinationals. Its services include treasury services, merchant services and payment processing solutions.
JPMorgan Payments’ treasury services include tools to efficiently manage cash and working capital. Companies benefit from advanced cash management strategies, streamlined payment options such as wire transfers, ACH payments and real-time payments, along with liquidity solutions such as sweep accounts and notional pooling.
These services help companies optimize cash flow and ensure efficient financial operations. JPMorgan Payments combines treasury, working capital, trade capital, card and merchant services capabilities to help clients pay customers or employees in multiple currencies around the world.
JPMorgan Payments processes nearly $10 trillion in payments per day, operating in more than 160 countries and over 120 currencies. In 2023, JPMorgan Payments reported revenue of $18.3 billion, up from approximately $14 billion in 2022, an increase of 31% excluding the impact of equity investments.
The partnership with AutoRek aligns with JPMorgan Payments’ strategy to leverage technology and collaboration for seamless financial solutions globally. JPMorgan Payments continues to expand its ecosystem through strategic alliances, aiming to streamline operations and drive innovation in the financial industry.