JPMorgan Chase & Co. has opened a check processing center in Tokyo that uses imaging technology to clear payments in U.S. currency for bank clients in that region.
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The New York company operates similar centers in Seoul, Shanghai, Singapore, Mumbai, and Hong Kong.
The Tokyo International Image Deposit Center allows financial companies to clear U.S. dollar cash letters, a process JPMorgan Chase describes as faster and less expensive than delivering the checks to the United States for settlement.
