J.P. Morgan Interbank Information Network® Grows to 300+ Banks
September 19 2019 - 8:00AM
Business Wire
Network experiences triple digit growth in 12
months
J.P. Morgan’s (NYSE: JPM) Interbank Information
Network (IIN®) has expanded dramatically over the last 12 months,
as more than 330 banks have signed up to be part of IIN – including
Deutsche Bank. IIN has also brought more than 65 banks live on the
network since launching in 2018.
“The intent with IIN was always to develop a
meaningful ecosystem of bank users, all focused on harnessing
emerging technologies such as blockchain to better address the
complex cross border payments industry,” said John Hunter, Global
Head of Clearing for JPMorgan Chase. “In just one year, we’ve seen
IIN scale as well as expand in terms of role and capabilities – and
we are excited at the growth to come.”
Originally launched as a pilot in 2017, IIN
focused on minimizing friction in the global payments process,
enabling payments to reach beneficiaries faster and with fewer
steps. J.P. Morgan is exploring new applications that can be
deployed across the network as well as empowering IIN participant
banks to be part of a developer ecosystem in which they can develop
their own solutions for possible use across the network.
The full list of IIN banks can be found
here.
About J.P. Morgan’s Corporate &
Investment Bank
J.P. Morgan’s Corporate & Investment Bank
is a global leader across banking, markets and investor services.
The world’s most important corporations, governments and
institutions entrust us with their business in more than 100
countries. With $25 trillion of assets under custody and $458
billion in deposits, the Corporate & Investment Bank provides
strategic advice, raises capital, manages risk and extends
liquidity in markets around the world. Further information about
J.P. Morgan is available at www.jpmorgan.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190919005223/en/
Media Contact: Jessica Francisco (212)
270-1719 jessica.francisco@jpmorgan.co
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