JP Morgan and Taulia have announced a deal under which the U.S bank will offer Taulia’s SCF platform as the onboarding solution for its clients, allowing them to switch between bank-funded and self-funded early payments schemes. The agreement, described as a ‘strategic alliance’, has been rumoured for some time and is believed to have been in advanced discussions since late 2019. While other fintecs have arrangements with banks as funders and for client introductions, this is believed to be the first time a global bank and fintec have worked so closely together.
“We’re always looking for impactful ways to enhance the client experience and that’s been proven by our various investments over the last three years – from acquisitions to strategic alliances like what we’re doing with Taulia,” said Takis Georgakopoulos, Global Head of Wholesale Payments, J.P. Morgan.
“We are very excited to be working together with J.P. Morgan to offer a solution that will be game-changing in our industry. Combining Taulia’s technology and delivery with J.P. Morgan’s global reach creates an unmatched value proposition for clients. Our mission is to allow businesses to thrive by having access to cash in a predictable and cost-effective manner. This strategic alliance further strengthens our purpose,” says Cedric Bru, CEO, Taulia.