J.P. Morgan, a full-service provider of cash management, trade finance, and treasury solutions, today announced the opening of new International Cash Letter Image Deposit Centers in Bahrain, Jakarta and Pakistan, bringing the total number of Centers to 17. The new centers enable J.P. Morgan to provide its financial institution clients with the ability to clear their U.S. 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 J.P. Morgan Centers outside the United States that enable financial institutions to process their U. S. dollar cash letters in an automated electronic environment. J.P. Morgan 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,” said 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.”
J.P. Morgan 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 U.S. dollar check items regardless of their home country location,” said 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.”
About J.P. Morgan Treasury Services
The Treasury Services business of J.P. Morgan is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and a presence in 36 countries, J.P. Morgan Treasury Services is the world’s largest provider of treasury management services and a division of J.P. Morgan Chase Bank, N.A., member FDIC. More information can be found at www.JPMorgan.com/ts.
About J.P. Morgan Chase
J.P. Morgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.8 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, J.P. Morgan Chase serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about the firm is available at www.JPMorganchase.com.
J.P. Morgan Chase & Co.
John Johmann, +44 (0)791 954 0742
john.johmann@jpmorgan.com
or
Jennifer
Hanley, +1 347 901 0195
jennifer.m.hanley@jpmorgan.com
or
Juliana
Wheeler, +44 (0)777 4652508
juliana.r.wheeler@jpmorgan.com
