22 July 2018
Visit www.avoka.com

Chase converts 2.9 million WaMu accounts

29 May 2009  |  3014 views  |  0 Source: Chase

Chase announced today it has successfully upgraded products and technology in the Pacific Northwest to link 343 former Washington Mutual branches with more than 3,200 other Chase branches.

The conversion of 2.9 million accounts in Washington, Oregon, Idaho and Utah follows the March conversion of 20 million credit card accounts onto Chase computer systems, increasing effectiveness and reducing costs in the process.

To ensure high-quality customer service, more than 1,100 Chase tellers and bankers traveled from around the country to work side by side with 6,300 counterparts in the Pacific Northwest, supplementing 100,000 hours of training on the new software and hardware.

"Our employees have done terrific work in converting 2.9 million accounts in record time -- just 33 weeks after we acquired WaMu's banking operations," said Charlie Scharf, head of Retail Financial Service at Chase, part of JPMorgan Chase & Co. "We are creating better service and convenience for our customers while becoming more efficient."

The Pacific Northwest conversion is the first of three retail conversions to bring all WaMu branches onto the Chase's computer systems - and under the Chase brand. By the end of the year, customers will have full access to 25 million checking accounts at any of more than 5,000 Chase branches and 14,500 Chase ATMs across the country.
JPMorgan Chase acquired the banking operations of Washington Mutual from the Federal Deposit Insurance Corporation in September, 2008.

The conversion, completed over the past weekend, involved:

  • The conversion of 2.9 million consumer banking, small business and other accounts onto a single deposit system. The accounts represent $20 billion in deposits.
  • Preparations by 2,500 technology and business employees in the last six months.
  • Hundreds of thousands of hours of programming and testing over seven months.

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://secure.vasco.comVisit info.nice.comVisit iliad-solutions.com/

Who is commenting?

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
13585 views comments | 6 tweets | 8 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
11256 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
10120 views 19 comments | 15 tweets | 30 linkedin
IBM to test dollar-pegged 'stablecoin'IBM to test dollar-pegged 'stablecoin'
7460 views comments | 4 tweets | 14 linkedin
Bringing about new systems and faster payments globallyBringing about new systems and faster paym...
7280 views comments | 2 tweets | 7 linkedin

Featured job

Competitive base, double ote, benefits
New York City, NY - USA

Find your next job