JPMorgan opens three new image deposit centres

The bank opens centres in Singapore, Hong Kong and Mumbai to speed up cheque clearing for clients.
JPMorgan Chase has opened three more international image deposits centres IDCs in Asia, selecting the cities of Singapore, Hong Kong and Mumbai as the hosts. The openings add to JPMorganÆs existing network of IDCs that now include Bournemouth, Frankfurt, Madrid, Milan, Paris, Zurich and its most recent addition, Shanghai.

With the new centres in Asia, JPMorganÆs financial institution clients will gain increased efficiencies in clearing their US dollar cash letters and lower their cheque transportation costs. Under the IDC model, clients will be able to perform these activities without changing their cash letter operations.

ôFor more and more of our global clients, this expansion of image deposit centres means they...
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