MEDIA RELEASE PR39433
J.P. Morgan Helps Indonesia's Bank Mega Improve Currency Clearing and Payment Flows
HONG KONG, May. 12 /PRNewswire-Asia-AsiaNet/ --
Leading Indonesian Bank Chooses J.P. Morgan's U.S. Dollar Clearing - Asia Direct and Payment-Versus-
Payment Settlement Solutions
J.P. Morgan has announced today that it has been selected by PT Bank Mega Tbk. ("Bank Mega"), one of
Indonesia's leading financial institutions, to provide clearing services for both its commercial and treasury
payment flows with J.P. Morgan's U.S. Dollar Clearing - Asia Direct solution and payment-versus-payment
(PvP) settlement services for foreign exchange transactions.
By using J.P. Morgan's U.S. Dollar Clearing - Asia Direct solution, Bank Mega's clients are able to make
faster payments to beneficiaries in Mainland China and Hong Kong. J.P. Morgan's U.S. Dollar Clearing - Asia
Direct solution is the first and only payment solution to provide direct access to multiple regional and in-country
U.S. Dollar clearing systems in Mainland China, Hong Kong, Japan and Taiwan from a single U.S. Dollar
account. J.P. Morgan's Asia Direct clients are not required to establish separate accounts in each country of
clearing, resulting in better cash concentration, lower fees, simplified funding arrangements and decreased
time spent on reconciliation activities. J.P. Morgan's U.S. Dollar Clearing - Asia Direct solution also helps Bank
Mega's clients to grow their business through improved relationships with their counterparties.
Bank Mega has also selected J.P. Morgan's payment-versus-payment settlement services for its foreign
exchange transactions in Indonesia. This new clearing service provides simultaneous delivery of Indonesian
Rupiah and U.S. Dollar currencies within the same Asia business day, thereby enabling Bank Mega to mitigate
foreign exchange settlement risk, improve its liquidity management and increase its operational efficiency.
"We are pleased to be working with J.P. Morgan to provide our clients with access to innovative value-
added services such as J.P. Morgan's U.S. Dollar Clearing - Asia Direct service and we will continue to look
for ways to surpass our clients' expectations. J.P. Morgan's leadership position in U.S. Dollar clearing was also
a
key factor in our decision to use the bank's Asia Direct and PvP settlement solutions," said J.B. Kendarto,
president director of Bank Mega.
"Indonesian banks have been rapidly adopting the latest standards of payment services. Being chosen by
Bank Mega to provide both commercial and treasury payments services demonstrates the strength of our
world-class cash management service offering. We also invest heavily in maintaining and growing
relationships with our clients and look forward to further expanding our relationship with Bank Mega. We
remain committed to delivering innovative solutions to our financial institution clients and to our fast-growing
client base in ASEAN countries," added Simon Jones, managing director and Asia Pacific regional Treasury
Services executive at J.P. Morgan.
J.P. Morgan offers a wide range of commercial and treasury payment services to financial institutions and
corporate clients in Indonesia. J.P. Morgan is also the world's largest U.S. Dollar clearing and commercial
bank.
About J.P. Morgan Treasury Services
The Treasury Services business of J.P. Morgan is a top-ranked, full-service provider of innovative payment,
collection, liquidity management, trade finance, commercial card and information solutions to corporations,
financial services institutions, middle market companies, small businesses, governments and municipalities
worldwide. With more than 100,000 clients and services provided in more than 60 countries and 40 U.S.
states, J.P. Morgan Treasury Services is one of the world's largest providers of treasury management services
and a division of JPMorgan Chase Bank, N.A., member FDIC. More information can be found at
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion
and operations in more than 60 countries. The firm is a leader in investment banking, financial services for
consumers, small business and commercial banking, financial transaction processing, asset management and
private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of
consumers in the United States and many of the world's most prominent corporate, institutional and
government clients under its J.P. Morgan and Chase brands. In Asia Pacific, J.P. Morgan operates through 26
offices in 15 countries and has developed its wholesale banking franchise during a history of almost 160 years
Media Contact:
Karene Dufour Lo, J.P. Morgan Treasury & Securities Services
Tel: +852-2800-1924
Email: karene.c.dufourlo@jpmorgan.com
SOURCE: J.P. Morgan
NEWS 
