JPMorgan has announced that Systems & Services Technologies, Inc. (SST), a wholly-owned subsidiary of JPMorgan’s Worldwide Securities Services, is adding credit card receivables to its third-party collections and servicing portfolio.
“JPMorgan views the third-party credit card market as a critical component of our asset servicing expansion strategy,” said Glenn Estrella , Senior Vice President in JPMorgan’s SST group within JPMorgan’s Worldwide Securities Services. “As the leading third-party service provider in the consumer finance space, we will be better able to serve clients across the spectrum, including investment banks, retail and card issuers and credit unions.”
Currently SST handles more than $6 billion in active receivables. In addition to automotive loans, SST services marine, motorcycle and power sport vehicles, signature loans, consumer receivables and manufactured housing. SST also provides back-up and master servicing on ABS, term and warehouse structures.