21 February 2018
Visit www.capgemini.com/worldreports

JPMorgan opens image deposit centre in Tokyo

25 July 2007  |  1878 views  |  0 Source: JPMorgan

JPMorgan, a leading global full-service provider of cash management, trade finance, and treasury solutions, today announced the opening of its International Image Deposit Center ("IDC") in Tokyo, Japan.

The center will allow the bank's financial institution clients to clear their U.S. dollar cash letters and to lower check transportation costs, all without changing their cash letter operations.

The Tokyo IDC, which allows financial institutions to initiate their cash letter processing, joins five other JPMorgan centers outside the United States. In Asia, JPMorgan has opened IDC's in Seoul, Shanghai, Singapore, Mumbai, Hong Kong and now Tokyo.

"We are delighted to add Japan to our regional IDCs to ensure we continue providing our clients greater efficiencies in their business," said Lisa Robins, JPMorgan's Treasury Services APAC Head of Product Management. She added that "for our clients, it is business as usual as they prepare their U.S. dollar check deposits and deliver the items to our Tokyo center however once we receive them we use state-of-the-art imaging technology to efficiently convert them to digital images which are transmitted for clearing.

The Tokyo location will enable financial institutions in Japan to streamline their check clearing processes, alleviating worries over potential delays or loss due to customs inspections. Clients will also be able to obtain the original paper check documents once the items clear. JPMorgan has invested more than US$100 million to enhance its image infrastructure and expand its depository services capabilities.

"As a leading Treasury Services provider in the Japanese market, our regional IDC in Japan reiterates our commitment to the Japanese market and highlights our focus on consistently providing value to our Japanese Financial Institutions clients." said Treasury Services Japan Business Executive, Ricky Kaura.

In addition to the International Image Deposit Centers, JPMorgan Chase offers a suite of cash letter and check collection products to process international payments:
  • International Cash Letter clears and settles U.S. dollar check deposits, providing tracking features and SWIFT messaging regarding funds availability
  • Secure Collections Service offers package tracking and fraud review processes for secure check collections, crediting clients' accounts on the scheduled settlement date
  • Multi-Currency Cash Letter clears and settles checks drawn on foreign banks, posting within 24 hours of the receipt of payment and providing notification via SWIFT, fax or email

Comments: (0)

Comment on this story (membership required)

Related company news


Related company information

JPMorgan Chase

Related blogs

Create a blog about this story (membership required)
Visit https://www.capgemini.comvisit www.nextgenbanking.co.ukvisit www.ebaday.com

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11946 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
9715 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
9461 views 10 comments | 22 tweets | 26 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
8223 views comments | 13 tweets | 12 linkedin
FCA explores creation of global sandboxFCA explores creation of global sandbox
7477 views comments | 19 tweets | 18 linkedin

Featured job

Hong Kong, Asia-Pacific

Find your next job