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Customer Spotlight: Manufactured

Modern Treasury customer, Manufactured, is streamlining manufacturing solutions for consumer brands. They partnered with Modern Treasury—integrated with JPMorgan Chase Bank—to build their scalable, cross-border payments solution.

Justin RamosPMM

About Manufactured

Founded in 2017, Manufactured helps businesses reduce inventory risk by manufacturing, financing, and distributing physical products more efficiently. Their end-to-end manufacturing solution serves customers across the lifecycle, from proof-of-concept to growth.

Manufactured streamlines the management of orders, finances, production, quality, and logistics. This enables consumer brands to optimize the overall manufacturing process. They also provide Inventory and Purchase Order Financing solutions to customers as part of their platform.

Today, the Manufactured platform helps customers produce over $100m of goods with over 500 manufacturers globally, distributed across 20 industries and 25 countries.

Unique Payments Challenges

Payments are critical to Manufactured’s business: they sit in the flow of cross-border transactions between customers and manufacturing vendors.

In practice, this presents unique challenges—for example, Manufactured must:

  • Verify international vendor bank accounts
  • Debit and credit customer and vendor accounts across countries and currencies
  • Provide real-time visibility into customer finances

An Integrated Solution

To address these payments challenges, Manufactured has partnered with Modern Treasury— integrated with JPMorgan Chase Bank—to build a scalable cross-border payments solution. JPMC's unique combination of Virtual Routing Numbers, Same Day ACH, and Global SWIFT payment rails allow merchants and vendors to settle orders via asynchronous SWIFT / ACH settlements.

Newer integrated products like JPM Global Mass Pay enables customers to use the Global ACH network in combination with local payment rails to keep global payment costs down. This allows Manufactured to move money globally via ACH to their customers and vendors with a single API, programmatically disbursing and receiving funds from both customers and vendors in a timely cadence.

Manufactured also needs to verify accounts when dealing with international manufacturing vendors, but not every country has reliable account verification services. Because payment failures are a significant risk for the business, it’s vital for Manufactured to ascertain whether:

  1. A bank account is real
  2. That account can receive money
  3. The account belongs to the vendor

To streamline bank account verification, Manufactured uses Modern Treasury’s Payments product. When Manufactured initiates a payment with Modern Treasury, they send the payment amount to the vendor through JPM Global Mass Pay and receive a webhook to verify the bank account in real time. These payments can be micro payments, effectively creating a low-cost and highly reliable verification solution for international vendor accounts.

A High-Value Partnership

The partnership between Manufactured and Modern Treasury has enabled Manufactured to build an efficient and reliable global payments system. As CEO Pranay Srinivasan said,

“Payments are critical for us because being in the flow of goods means we need to be in the flow of finance and payments as well. We’ve been building a global cross-border payment system and Modern Treasury’s platform and its flexibility to integrate with JPM and implement creative solutions like Global Mass Pay has been invaluable to us.”

We are thrilled to work with Manufactured, a leader in cutting-edge manufacturing and supply-chain solutions.

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