JP Morgan has launched a virtual branch in China. The service eliminates the need to be physically present at bank branches. JP Morgan hopes to reduce manual interventions and improve turnaround times through faster transaction processing.
The virtual branch is integrated into JP Morgan’s ACCESS OnlineSM portal. The launch in China follows the launch of virtual branches in India, Indonesia, and Thailand.
“The virtual branch allows clients to upload, check and store their supporting documents electronically,” says Rani Gu, head of treasury services, China.
“The portal’s Dashboard offers track-and-trace capabilities, which allow clients to check and monitor the end-to-end workflow progress of all their cross-border merchandize trade transactions. Email alerts can also be activated to ensure our clients receive instant status updates of all their documentation processes,” says Gu.