J.P. Morgan introduces Liink, transforming how information moves

By Pavithra R

J.P. Morgan, a leader in financial services, offering solutions to clients in more than 100 countries has announced the launch of Liink, a new brand name for the firm’s blockchain-based Interbank Information Network (IIN) and introduced new applications available to Liink participants.

Liink is an ecosystem and network that enables collaboration, access to new capabilities, and commercialization opportunities for its participants which includes financial institutions, corporates and FinTechs. It is part of Onyx by J.P. Morgan, a new business unit dedicated to building next-generation payment capabilities. Liink enables financial institutions and corporate users to make secure, peer-to-peer data transfer with greater speed and control.

Liink has also introduced two new applications, Confirm and Format, which were developed from the direct feedback of network participants regarding their needs and challenges.

Confirm: allows for the validation of account information prior to initiating a payment to reduce operating costs related to payment instruction errors and potentially help reduce fraud,

Format: enables payment instruction validation to check whether a payment message accurately conforms to key country and currency-specific information requirements.

“We have been listening to our clients and are delivering solutions with speed. We’re excited about this next phase of growth and we intend to bring additional next-generation products and services to Liink participants in the coming months,” said Christine Moy, the newly appointed Global Head of Liink.

Liink, which was launched as a pilot in 2017 and has more than 400 financial institutions and corporations as Liink participant, including 27 of the world’s top 50 banks, representing 78 countries.

“Liink as a new brand comes at a pivotal time, as we look to re-architect how money, information and assets move across the globe. Umar Farooq, CEO of Onyx.

Since 2015, Onyx is at the forefront of a major shift in the financial services industry. The new business unit reflects J.P. Morgan’s commitment to innovation, building cutting-edge technology that delivers a better, faster and more inclusive financial system.