JPMorgan opens new Image Deposit Centres

by Richard Kilner

Story link: JPMorgan opens new Image Deposit Centres

JPMorgan has opened a two new International Image Deposit Centres in Taipei and Bangkok.

The openings bring its total centre number to 14, with the others sited in Bournemouth, Frankfurt, Hong Kong, Madrid, Milan, Mumbai, Paris, Seoul, Shanghai, Singapore, Tokyo and Zurich.

The new centres will allow clients to retain their cash letter operations whilst permitting them to clear US dollar cash letters and reducing costs for cheque transportation.

Frankfurt was the first city to see such a centre open, in 2005. Since then the firm has continued to open new centres in a bid to enable their clients to process image cash letters easily and efficiently.

JPMorgan continues to search for new markets where centres may be beneficial, and intends to open two more centres later this year, in Pakistan and Jakarta.