Digital adoption, cross-border e-commerce and platform-based business models are redefining the demands placed on global payments infrastructure. JP Morgan, which processes trillions in value daily across hundreds of markets, is expanding and redesigning its payments stack in Asia Pacific (APAC) to meet these expectations. The region’s diversity, combined with the rapid expansion of real-time systems and wallet networks, requires infrastructure that can connect domestic rails with global settlement, liquidity and governance frameworks. JP Morgan’s strategy reflects a transition towards platform orchestration, ecosystem connectivity and the strengthening of corridors that link Asia to the rest of the world.

Evolving payments architecture in a multi-speed Asia

Akhil Devmurari oversees fintechs, payment processors and digital-platform partnerships for JP Morgan in APAC, where real-time payments, digital wallets and cross-border commerce are expanding rapidly. His role places him at the centre of how the bank adapts its global infrastructure to meet the demands of diverse domestic payment systems and the rising scale of digital participation. As Devmurari noted, “60% of the world’s population resides in APAC and the fintech adoption and digital payments adoption is on the rise.” This shift is reshaping how banks must organise their architecture, liquidity frameworks, corridor connectivity and governance capabilities.

Against this backdrop, Devmurari outlines how JP Morgan is designing a unified payments backbone that integrates domestic real-time systems with global settlement, supports embedded finance, strengthens ecosystem partnerships and responds to new corridor flows across Asia, the Middle East and Latin America.

Evolving payments architecture in a diverse and fast-growing region

APAC’s payments landscape is shaped by fast-evolving digital adoption and significant market diversity. Real-time payment schemes, wallets and alternative payment methods are progressing at different speeds across the region. JP Morgan’s architectural response has been to redesign its infrastructure around interoperability.

The firm is focused on seamlessly connecting its global settlement and foreign exchange (FX) capabilities to domestic instant-payment systems.

Devmurari highlighted the driving forces behind this transformation: “Tech adoption, fintech adoption, digital payment companies helping small and medium-sized enterprise (SMEs) and e-commerce players, and tech players helping counter fraud and manage risk.” These developments have altered client expectations, requiring banks to move beyond siloed payments rails to integrated infrastructure.

Corridor flows are particularly influential. Devmurari noted that “e-commerce flows between China and ASEAN or between Asia and Latin America are on the rise.” JP Morgan positions itself as the platform supporting these platforms, ensuring that digital businesses can connect to global financial flows without redesigning infrastructure for each market.

He summarised the bank’s architectural posture as “local access with global approach”—a model that ensures domestic real-time systems interoperate with the bank’s global network.

A platform mindset guiding ecosystem strategy

Collaboration is foundational to JP Morgan’s strategy. Devmurari is clear: “Can one party solve for it? No. It takes collaboration.” The demand for global, instant and trusted fund movement requires banks, fintechs and technology providers to operate as a single ecosystem.

He describes this dynamic as “coopetition-cooperation and competition,” where fintechs contribute speed and innovation, while JP Morgan contributes scale, resiliency and the ability to operate across hundreds of jurisdictions. The bank processes around “$10 trillion a day” and “5000 transactions per second, 24/7,” demonstrating the operational foundation on which digital firms can build.

In ASEAN, where “about 55% of the population is unbanked,” wallet providers and fintech platforms rely on JP Morgan for access to real-time rails, FX engines and last-mile settlement. The bank’s ecosystem strategy is therefore central not only to commercial flows but also to digital inclusion across the region.

Real-time treasury and integrated liquidity for high-velocity markets

Real-time payments have redefined treasury expectations. Liquidity optimisation is no longer a periodic process but an ongoing operational requirement. Devmurari noted that “everyone wants to optimise liquidity,” and this demands a unified infrastructure for funding, FX and real-time settlement.

JP Morgan integrates liquidity tools directly into its payments stack, allowing treasurers to position and move funds across borders with precision. Connecting domestic real-time systems to its global network ensures that corporates maintain visibility and control even as the speed and volume of digital transactions increase.

This integration enables businesses to support real-time commerce flows, including cross-border e-commerce, travel-related payments and digital marketplace settlements, without fragmentation.

Embedded payments and the rise of integrated financial workflows

Embedded finance has become a core requirement for digital platforms. Devmurari described the new client expectation: “The expectation is a one-stop shop solution. I want to be able to receive money, execute FX, pay and for you to also help me validate the account I’m making payments to.”

JP Morgan supports this through an end-to-end architecture combining collections, validation, FX execution, liquidity automation and payouts. These capabilities allow platforms to embed financial services directly into user journeys rather than accessing them through traditional banking channels.

The bank’s role has therefore shifted from enabling payments to also enabling the business models of platforms, marketplaces and gig-economy ecosystems.

Strengthening emerging corridors linking Asia, the Middle East and Latin America

Devmurari identified several fast-growing corridors shaping JP Morgan’s strategy. India–ASEAN travel flows, generating demand for real-time acceptance and settlement. China–Latin America trade, with “China, Brazil and China, Mexico” becoming significant routes. Middle East–Asia remittances, are now “the second largest remittance corridor globally”, and ASEAN gig-economy flows, dependent on wallet payouts and last-mile delivery.

JP Morgan leverages its network across 14 APAC markets, its FX market-making capabilities and its connectivity to local clearing houses to support these routes. As Devmurari noted, “It is a journey of discovery… you will find new emerging areas.” The bank’s corridor strategy is therefore designed for adaptability and scale.

Risk, governance and compliance as the foundation of expansion

As real-time and embedded systems expand, risk exposure grows. Devmurari emphasised that “cyber fraud is on the rise,  and sanctions, anti-money laundering and compliance risks continue to increase.”

For JP Morgan, compliance is the starting point for any partnership. “The first question we start with is: how do you manage cyber fraud? How do you manage anti-money laundering risk? How do you manage sanctions risk?” This reflects the bank’s conviction that interoperability and scaling are only possible when partners meet robust governance standards. Strong controls not only protect the bank but allow digital platforms to expand across multiple markets responsibly.

Scaling fintech partnerships with a structured, multi-market framework

JP Morgan assesses fintech partnerships based on operational scale and long-term vision. Devmurari asked a central question: “Is the client operating in one market, or multiple markets?” This determines whether the bank’s infrastructure can support expansion and whether the partner can benefit from its multi-market connectivity.

Understanding a partner’s goals enables JP Morgan to align its clearing, FX and cross-border settlement capabilities with the partner’s growth trajectory, ensuring that expansion is both sustainable and compliant.
Devmurari’s insights illustrate how Asia’s digital scale, diversity and evolving corridor flows are shaping JP Morgan’s global payments architecture. The bank is strengthening interoperability between domestic and global systems, supporting embedded finance, enabling real-time treasury and aligning its infrastructure with emerging corridors across Asia, the Middle East and Latin America.

Risk, governance and ecosystem collaboration remain foundational to this strategy. As Devmurari reflected, “The whole digital payments ecosystem is evolving big time.” JP Morgan’s approach is designed to support this evolution responsibly, with infrastructure built for the speed, resiliency and trust required in the coming decade.