Headlines:
Chase, Walgreen in Arizona ATM Pact
JPMorgan Chase & Co. plans to install automated teller machines in 220 Walgreen Co. drugstores in Arizona.
The New York banking company announced the Arizona deal Tuesday. Last month it announced a deal to put its name on ATMs in Duane Reade Inc.'s 246 stores in the New York area.
Thomas Kelly, a JPMorgan Chase spokesman, said the installation would begin next week and continue through yearend. At the end of the project it would have 331 ATMs in Phoenix and 86 in Tucson, the state's two largest cities.
"The strategy is very simple - to create a convenience that our competitors cannot match," Mr. Kelly said in an interview.
The Arizona ATMs will bear the Bank One brand until late this year, when the company plans to convert them to Chase. Bank One Corp., which JPMorgan Chase acquired last year, had been in Arizona since acquiring Valley National Corp. of Phoenix in 1992.
Walgreen, of Deerfield, Ill., also has Bank One-branded ATMs in stores in Chicago, and JPMorgan Chase has similar arrangements with convenience stores and gas stations in other markets, Mr. Kelly said. Besides the 220 new machines in Arizona, about 2,000 of Chase's 6,930 ATMs are in nonbank locations, he said.
Wachovia Installing March Video System
Wachovia Corp. of Charlotte is installing a digital-video security system at its branches and international offices from March Networks Corp., an Ottawa provider of Internet-enabled surveillance equipment.
March Networks announced last week that Wachovia began installing the equipment this year. The system includes a software module, Banking Assistant, that indexes video records of transactions at automated teller machines and teller stations.
David Smith, a vice president at Wachovia and its leader for security systems and equipment, said in the vendor's press release that March Networks' digital video recorders "are engineered to perform as networked security devices and are well-suited to the high reliability demands of large implementations such as ours."
