Embedded Banking Services with J.P. Morgan for Real-Time Bank Balances

Embedded Banking Services with J.P. Morgan provides businesses with a comprehensive view of their financial position to operate their day-to-day business finances effectively. The solution provides integrated banking and payment services enabled from turnkey connectivity between Cloud ERP and J.P. Morgan Payments for U.S. and Canada customers, as well as customers domiciled in the SEPA region. It includes synchronization of all bank account master data, the requisite setup needed to automate funds capture/disbursement, and continuous bank statement retrieval, processing, and reconciliation. The integration also provides a seamless onboarding experience by automatically configuring connectivity and importing bank account master data. The 25B update provides real-time bank balance visibility in Cloud ERP.

Improved visibility of real-time bank balances for J.P. Morgan bank accounts helps organizations to optimize liquidity management and enable efficient cash management decisions. The integration uses J.P. Morgan Account Balances API to fetch real-time bank balances. J.P. Morgan will return the real-time bank balance for the bank accounts that are enabled for real-time balance processing. The real-time balances for the bank accounts can be reviewed from the Cash Balances Dashboard. Customers can review the bank balances and, based upon review, adjust account balances by generating bank account transfers on the 'Create Bank Account Transfer' interface as needed.

Business benefits include:

  • Accelerated access to real-time bank balances in your Cloud ERP system by integrating the J.P. Morgan Account Balances API.
  • Enhanced visibility into real-time bank balances, allowing for better liquidity management and more effective cash flow decisions.
  • Maximized investment returns by leveraging precise, real-time data to make informed decisions and allocate funds for optimal performance.
  • Strengthened fraud detection and prevention by promptly identifying unusual bank balances for quicker response to potential threats.

Steps to Enable

This feature is controlled through a promotion code and a development opt-in. To enable this feature, you need to log a Service Request (SR). Please see, Service Request Process For B2B Embedded Banking Services (KB80112). Please also refer to the 23D What’s New, Payables > Embedded Banking Services with J.P. Morgan, to familiarize yourself with the overall integration and requirements.

Note that the Setup and Maintenance onboarding task “Manage Banking Configurations for J.P. Morgan” has been renamed “Manage Embedded Banking Configurations".

To enable this feature, you need to complete the following steps:

1. Enable Real-time balances dev opt-in.

  • Navigation: Setup and Maintenance > Manage Standard Lookups
  • Search for ‘ORA_ERP_CONTROLLED_CONFIG’
  • Create dev opt-in ‘CE_35163538’

2. Navigate back to FSM task and Enable the Flow - Real-Time Bank Balance

  • Navigation - Setup: Financials >Banking Configuration > Manage Embedded Banking Configurations 
  • Select J.P. Morgan from the list.
  • Check Real-Time Bank Balance under the flow Bank Statement Processing.

3. Select the sub flow Real-Time Bank Balance under Bank Statement Processing and click Next. This will prompt an alert/email to upload a one-time certificate via J.P. Morgan Development Portal. Once the certificate upload is completed manually, the Real-Time Bank Balance flow is marked as complete.

4. Enable the "Real-time Balance Processing" option in the bank account setup.

  • Navigation:  Setup and Maintenance > Manage Bank Accounts
  • Search for the Bank Accounts and edit the accounts with Real-time Balance Processing flag checked.

Tips And Considerations

  • If there are any issues specific to this integration service, please log a service request. For instructions, Please see, Service Request Process For B2B Embedded Banking Services (KB80112).
  • This feature uses the J.P. Morgan 'Account Balance' API for the real-time balances. Please work with J.P. Morgan to enable the API for selected accounts, then enable the real-time bank balance functionality in Cloud ERP.

Access Requirements

You must have the Financial Application Administrator job role to establish connectivity with J.P. Morgan and review all related predefined and automatically configured Functional Setup Manager tasks.