JPMorgan Chase & Co. said Wednesday that it has opened two more international image deposit centers, in Taipei and Bangkok.
That brings to 14 the number of check-imaging centers the New York banking company operates outside the United States. It said it plans to open two more centers this year, in Pakistan and Jakarta.
The centers provide check-imaging and clearing services for corporate clients and correspondent banks in their local regions, accepting U.S. dollar cash letters for clearing as images. They accelerate clearing and funds availability and lower check transportation costs, without requiring changes to the foreign operation's check processing, JPMorgan Chase said.
The company opened its first offshore image center, in Frankfurt, in October 2005.
