JPMorgan Chase Bank and Affiliated Computer Services have teamed up to provide end-to-end cheque imaging services to financial institutions.
The combined JPMorgan Chase/ACS image archival service can be up and running within 90 days with virtually no impact on a financial institution's current cheque clearing operations, say the companies.
The system enables banks to electronically load, store and retrieve cheque images, and can be extended to include statements, signature cards or any other type of document.
John Bonin, senior vice president of the i-solutions group at JPMorgan Chase, says: "This combined, innovative solution will allow banks to overcome the hurdles of cost, time and tremendous effort traditionally involved in image-enabling cheque processing operations, which will be particularly significant for mid-sized banks."