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JPMorgan Embraces Bill.com's Fintech Tools

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JPMorgan Chase & Co. (NYSE: JPM) partnered with Bill.com Tuesday with the intent of adopting its B2B technology to simplify client financial processes.

Beginning in 2018, Chase will implement the payments and invoicing technology on its digital platforms to hasten transactions. The fintech is expected to halve the amount of time spent on manual bill management.

“Being the easiest bank to work with includes finding ways to help businesses move toward digital automation and quicker time to money,” said Andrew Kresse, CEO of JPMorgan’s Business Banking. “This solution does just that and truly adds value by offering back something every business owner needs a little more of — time in their day.”

As part of the collaboration, the firms will share access to one another’s client bases, swapping JPMorgan’s 4 million small businesses, 15,000 middle-market and 7,000 investment and corporate consumers for Bill.com’s 2.5 million-member network.

The deal further advances JPMorgan’s recent fintech efforts. The firm reportedly spent $600 million last year on related solutions and has already established partnerships with the likes of Truecar, On Deck Capital Inc. and Roostify.

If you’re looking for cool fintech startups and access to top financial institutions, and are sick of attending stuffy corporate conferences, the Benzinga Fintech Summit is the event for you. Visit www.bzsummit.com for more details.

Connect with us on social media — use the hashtag #BZAwards and #Fintech to spread the word.

Posted-In: Andrew Kresse Bill.comFintech

 

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