Two years ago, Euromoney spoke with Takis Georgakopoulos, JPMorgan’s global head of wholesale payments. He said then he wanted JPMorgan to be the largest transaction bank in the world.
Two years on, surveys suggest that on the treasury side at least, he made it: Coalition ranks the bank as having the highest market share for treasury services worldwide, and Greenwich gives it the highest rating for cash management relationships.
“I feel like we’ve delivered on the value proposition which we started working on a few years ago,” Georgakopoulos says.
Instrumental to the process was a decision to bring together all of transaction banking and merchant acquiring, commercial cards and global trade into a single business, now called wholesale payments.
It was a decision born out of the changing nature of customer-supplier engagement.
“It was an exciting opportunity for us, especially in the e-commerce space, with the increasing trend of companies going direct to consumers,” Georgakopoulos says.
Companies like these can bring together thousands of sellers, buyers and app developers, “and what they are looking for is a way to integrate how they accept payments from the end customer, and how they build value in the ecosystem by allowing buyers and sellers to transact within the ecosystem.”
