Global financial services firm J.P. Morgan is set to roll out its advanced AI-powered invoice reconciliation service in the Philippines this May, marking a key step in the country’s shift toward digital payments.

The launch is part of a broader regional expansion across ASEAN, Hong Kong, Australia, and New Zealand. In the Philippines, the initiative reflects J.P. Morgan’s growing focus on the market, which it sees as central to its payments innovation strategy in Asia Pacific.

“The Philippines is a key priority market for the company’s payments innovation strategy in Asia-Pacific amid its rapid digital adoption and booming fintech landscape,” says Max Neukirchen, Co-Head of Global Payments at J.P. Morgan.

Targeting industries with complex business-to-business flows, such as healthcare, industrials, and manufacturing, the AI solution aims to simplify cash flow management and reduce operational bottlenecks.

Neukirchen further notes that partnerships with major local banks like BPI, BDO, and UnionBank have significantly extended J.P. Morgan’s reach across the nation. “We are proud to maintain strong partnerships and a solid payments franchise revenue that spans both multinational corporations and locally headquartered clients,” he says.