JP Morgan Chase announced it’s implementing an enterprise content management solution from Oracle that will handle document capture services across the enterprise. Oracle’s Distributed Document Capture tool will automate much of business processes around sending e-documents around the horn, as well as compliance and reporting. The new system will “facilitate the electronic capture and management of a broad range of critical business documents including loan applications, financial statements, invoices and checks,” according to a statement.
Initially rolling out to 750 corporate users at JPM, more than 3,000 employees in the U.S., Europe, Africa and Asia are expected to use the software. The software deployment comes as JPM has back-office IT undergoing a major overhaul: besides the private-client integration of former Bear Stearns ops, JPM is moving to a new $30 million operating platform from Swiss firm Temenos for its global treasury management, and is bringing payment processing back in-house from the termination of its Chase Paymentech JV with First Data.
