US banking group JPMorgan Chase is implementing electronic document capture and management technology supplied by Oracle across its global operations.
The bank is implementing Oracle's Distributed Document Capture technology to facilitate the electronic capture and management of a broad range of critical business documents including loan applications, financial statements, invoices and checks.
Oracle says the Web-based system provides scalability, easy administration, support for multiple input devices. The bank will benefit from faster document cycle times, improved regulatory compliance and records management, more automated business processes and better access to information.
Commenting on the implementation, Trevor Salt, manager, distributed document capture, JPMorgan Chase, says: "Oracle Distributed Document Capture is designed to help us increase efficiency and gain tighter control over records for compliance requirements."
The system will initially will be rolled out to more than 750 US users at JPMorgan Chase. By the end of 2009, more than 3000 employees across the US, Europe, Africa and Asia are expected to be using the software.