The JPMorgan Chase Bank celebrates 31 years as the leader in Automated Clearing House (ACH) transactions, with 2.7 billion payments.
JPMorgan Chase has once again been ranked as the #1 financial institution in total automated clearing house (ACH) network payments by the Electronic Payments Association, and has ranked first in ACH originations since the inception of the network 31 years ago, and saw its ACH transactions grow to more than 2.7 billion last year.
Among the highlights of JPMorgan Chase's ACH performance was an 85.5% increase in online authorized (WEB) and telephone authorized (TEL) transactions.
With the widespread adoption of new imaging technologies, the benefits of ACH (access to Accounts Receivable Check (ARC) conversion), are reaching more and more businesses that process consumer checks. JPMorgan Chase's Image Deposit Direct desktop scanning solution accelerates the check deposit process, allowing businesses to rapidly scan checks for deposit from any geographic location and transmit the images to one central account or multiple accounts. By obtaining an image of the check, Image Deposit Direct gives clients the option of using ARC conversion to streamline the deposit process. In addition to reducing the costs associated with traditional paper check processing, using ARC can result in faster deposits and quicker availability of funds for clients.
The Treasury Services business of JPMorgan Chase is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and a presence in 36 countries, JPMorgan Chase Treasury Services is the world's largest provider of treasury management services.