JPMorgan Chase & Co. has expanded its check image operations in Asia by opening processing centers in Singapore, Hong Kong, and Mumbai.
The New York banking company said that its International Image Deposit Centers would enable correspondent banks to send U.S. dollar checks back to the United States for clearing, without requiring any changes in their own processing operations.
The centers convert paper checks into digital images and transmit them to the United States for deposit.
JPMorgan Chase's first international imaging center opened in Frankfurt in September 2005. It has six others, in Madrid; Milan; Paris; Zurich; Bournemouth, England; and Shanghai.
It said it plans to open additional centers in 2007.
"For more and more of our global clients, this expansion of Image Deposit Centers means they can continue to conduct business as usual when it comes to preparing their U.S. dollar check deposits," Lisa D. Robins, a senior vice president and the head of product management for JPMorgan Chase's Asia Pacific region, said in a press release last week.
