We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
JPMorgan Partners With Bill.com to Eradicate Paper Payments
Read MoreHide Full Article
JPMorgan Chase & Co. (JPM - Free Report) recently made an undisclosed investment in Bill.com, the largest business-to-business (B2B) payments network in the U.S. The move is part of the company’s efforts toward enabling its business clients do away with paper checks, and instead make and receive payments electronically.
Bill.com’s technology is likely to be integrated into JPMorgan’s digital system by early 2018. The association will benefit the banks’ customers by allowing them to have access to Bill.com’s network comprising almost 2.5 million users.
Notably, according to Stephen Markwell, a product strategy head for JPMorgan, though various customers have started making use of electronic payment tools, there is still a huge amount of business payments that are made using checks. In fact, around $4 is spent by companies for printing and handling each check.
Hence, once businesses start making and receiving payments electronically, it will save a lot of their time, money and effort, which goes into managing bills manually.
Markwell says, “Bill payment is a huge source of pain for businesses,” adding, “Every step of that process is manual, inefficient, error-prone, and ripe for electronification.”
However, this is not the first time that JPMorgan is using the expertise of another firm to better serve its clients. In order to make auto purchases easier and to simplify small business lending and mortgage origination, the bank had in the past announced partnerships with firms like Truecar, On Deck Capital Inc. and Roostify.
The company’s price performance looks impressive. Its shares have gained 40.6% in a year’s time, outperforming the 34.3% growth for the industry it belongs to.
Currently, JPMorgan carries a Zacks Rank #3 (Hold).
M&T Bank Corporation witnessed a marginal upward earnings estimate revision for the current year over the past 60 days. Its share price has increased 32% in a year’s time.
PNC Financial’s Zacks Consensus Estimate for the current year has also been revised marginally upward in the last 60 days. Its shares have gained 44.7% in the past 12 months.
State Street Corporation has witnessed an upward earnings estimate revision of 3.6% for the current year over the past 60 days. Its shares price has increased 34.6% in a year’s time.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
JPMorgan Partners With Bill.com to Eradicate Paper Payments
JPMorgan Chase & Co. (JPM - Free Report) recently made an undisclosed investment in Bill.com, the largest business-to-business (B2B) payments network in the U.S. The move is part of the company’s efforts toward enabling its business clients do away with paper checks, and instead make and receive payments electronically.
.jpg)
Bill.com’s technology is likely to be integrated into JPMorgan’s digital system by early 2018. The association will benefit the banks’ customers by allowing them to have access to Bill.com’s network comprising almost 2.5 million users.
Notably, according to Stephen Markwell, a product strategy head for JPMorgan, though various customers have started making use of electronic payment tools, there is still a huge amount of business payments that are made using checks. In fact, around $4 is spent by companies for printing and handling each check.
Hence, once businesses start making and receiving payments electronically, it will save a lot of their time, money and effort, which goes into managing bills manually.
Markwell says, “Bill payment is a huge source of pain for businesses,” adding, “Every step of that process is manual, inefficient, error-prone, and ripe for electronification.”
However, this is not the first time that JPMorgan is using the expertise of another firm to better serve its clients. In order to make auto purchases easier and to simplify small business lending and mortgage origination, the bank had in the past announced partnerships with firms like Truecar, On Deck Capital Inc. and Roostify.
The company’s price performance looks impressive. Its shares have gained 40.6% in a year’s time, outperforming the 34.3% growth for the industry it belongs to.
Currently, JPMorgan carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the same space are M&T Bank Corporation (MTB - Free Report) , The PNC Financial Services Group, Inc. (PNC - Free Report) and State Street Corporation (STT - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
M&T Bank Corporation witnessed a marginal upward earnings estimate revision for the current year over the past 60 days. Its share price has increased 32% in a year’s time.
PNC Financial’s Zacks Consensus Estimate for the current year has also been revised marginally upward in the last 60 days. Its shares have gained 44.7% in the past 12 months.
State Street Corporation has witnessed an upward earnings estimate revision of 3.6% for the current year over the past 60 days. Its shares price has increased 34.6% in a year’s time.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>