NEW YORK, December 15, 2009 -J.P. Morgan's Treasury Services business, a full-service provider of trade finance and treasury solutions, today announced that it has expanded its services in Canada by introducing new check image and check printing capabilities. As a result, clients are able to further streamline internal processes related to payables and check disbursement management in Canada.
"Clients are increasingly looking for a single bank solution to help them operate more efficiently," said Amy Altersohn, Vice President, J.P. Morgan. "By enhancing our current payables capabilities in Canada with new check image archive and check printing services, clients are able to further automate treasury tasks, strengthen control of operations, and improve access to information."
J.P. Morgan's new Canadian check image archive provides clients with the ability to view images of paid Canadian dollar and U.S. dollar checks drawn on a J.P. Morgan Toronto account using a secure online interface. The need to store checks physically has been eliminated as images are available online and are retrievable for seven years, providing clients with continuous archived information in the event of a technical breakdown or site disaster. Powerful search criteria enables users to quickly access check images by clearing date, serial number or check amount.
J.P. Morgan's Check Print Service is now available via the online portal Payables Web ServicesSM. With this service, clients who hold Toronto accounts have a new option for printing and mailing their accounts payable checks. Clients submit a single check payment file to J.P. Morgan for printing and mailing of checks, as well as for use with J.P. Morgan's Positive Pay fraud protection service. Checks are customized with company name and logo.
In Canada, J.P. Morgan offers a broad range of payables and receivables solutions, including ACH and high-value payments processing, over-the-counter deposits, foreign exchange, tax payments and wholesale lockbox services. "The enhancements to J.P. Morgan's Canadian payables capabilities are part of the company's ongoing investment in Treasury Services systems, innovation and services designed to benefit its clients around the world," said Chris Doria, U.S. Dollar Clearing and Canada Business Executive.
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 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 39 countries, J.P. Morgan Treasury Services is one of the world's largest providers of treasury management services and a division of JPMorgan Chase Bank, N.A., member FDIC. More information can be found at www.jpmorgan.com/ts.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 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, JPMorgan 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.