JPMorgan, a full-service provider of cash management, trade finance, and treasury solutions, opens new International Cash Letter Image Deposit Centers in Bahrain, Jakarta and Pakistan, bringing the total number of Centers to 17. The new centers enable JPMorgan to provide its financial institution clients with the ability to clear their US dollar cash letters in more locations, reducing check transportation costs and risks, all without changing their cash letter operations. The addition of these new centers strengthens the firm’s imaging capabilities in Asia and the Middle East.
The Bahrain, Jakarta and Pakistan International Image Deposit Centers join 14 other JPMorgan Centers outside the United States that enable financial institutions to process their US dollar cash letters in an automated electronic environment. JPMorgan unveiled its inaugural International Image Deposit Center in Frankfurt, Germany, in October 2005. The firm continues to explore other markets to establish centers as part of its goal to expand its global footprint.
“The opening of the new image deposit centers will only enhance the already robust products and services we offer clients who do business both in their home countries and around the world,” says Alan Koenigsberg, Treasury Services EMEA cash management product executive. “We look forward to delivering the world-class services our clients have come to expect and rely on to meet their cash letter needs.”
JPMorgan was the first global treasury management service provider to establish centers in local markets around the world. The Bahrain, Jakarta and Pakistan locations join centers located in Bangkok, Bournemouth, Frankfurt, Hong Kong, Madrid, Milan, Mumbai, Paris, Seoul, Shanghai, Singapore, Taipei, Tokyo and Zurich.
“With these three new centers, we will extend the delivery of our clearing services to a global market, making it easier and more convenient for clients to clear their US dollar check items regardless of their home country location,” says Linda McLaughlin-Moore, Asia Pacific Cash management product executive. “As a leader in image processing solutions, J.P. Morgan continues to deliver new products and services that help clients succeed in today’s increasingly competitive global marketplace.”
D.C.