Rippling offers a comprehensive software solution that streamlines HR, finance, and IT operations for businesses around the world, enabling them to handle payroll, benefits, talent management, device management, corporate cards, expenses, bill pay, and so much more—all in one place.
On March 9, 2023, in response to a regional banking crisis, the FDIC froze the accounts of Silicon Valley Bank, Rippling's then-financial services provider, and the clock was ticking to get clients the money they needed to pay their employees. Without hesitation, Rippling authorized the release of $130 million of the company’s own capital as a stopgap, but there was still the matter of actually issuing the payments. Thankfully Rippling had a contingency plan in place, which included an existing partnership with J.P. Morgan. Together, Rippling and J.P. Morgan established secure payment rails, beat the clock, and paid everyone on time.
The process of moving money across international borders for payroll and other transactions involves navigating myriad country-specific regulations and banking systems, each with its own unique requirements for currency exchange and tax compliance. This complexity necessitates a banking partner that can provide extensive global coverage and a sophisticated suite of services to handle the intricacies of navigating international payments. In these matters, there is arguably no better partner of choice than J.P. Morgan.
Their truly exceptional client service solidified Rippling’s confidence in J.P. Morgan as a trusted banking partner similarly dedicated to going above and beyond for clients.
When you’re a payroll company, you need to know that money is going to arrive, on time, in the right place, every single time. And we know that’s going to happen with J.P. Morgan. They’re going to move mountains to do right by their clients, and that’s our philosophy with our clients.
Parker Conrad
Rippling CEO at Rippling
J.P. Morgan continues to be Rippling's strategic partner going forward, helping to facilitate the company's ambitious vision.
Disclaimer
Rippling and its affiliates do not provide tax, accounting, or legal advice. This material has been prepared for informational purposes only, and is not intended to provide or be relied on for tax, accounting, or legal advice. You should consult your own tax, accounting, and legal advisors before engaging in any related activities or transactions.
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