Viewpointe Completes Transfer of Chase Check Archive
VIEWPOINTE ARCHIVE SERVICES COMPLETES TRANSFER OF CHECK ARCHIVE - OF ALMOST 4 BILLION ITEMS - FROM JPMORGAN CHASE
New York, NY - This month, Viewpointe Archive Services successfully migrated one of the largest digital check archives in the U.S. from JPMorgan Chase''s in-house image archive. With the migration of the JPMorgan Chase check archive - containing almost 4 billion check images--equating to over 100 terabytes of data -- Viewpointe now has almost 6.5 billion images loaded into its archive.
An average of 40 million new checks and check-related items are now being loaded to Viewpointe''s archive on a daily basis. Additionally, Viewpointe''s bank customers average up to 80 thousand retrievals a day, each one in just seconds - a vast improvement over the days when customers had to wait days to receive a photocopy of the image.
The migration of the JPMorgan Chase archive is a major milestone in the achievement of Viewpointe''s goal to create a document image archive that will facilitate the exchange of check and document images among banks, reduce check processing costs by as much as 30 percent and lay the foundation for consumers to retrieve digitized check images from the Web.
According to John Lettko, chief executive officer of Viewpointe, ""This significant milestone demonstrates Viewpointe''s ability to execute and operate an extensive archive of tremendous size and scale. We are delighted to have JPMorgan Chase, one of the largest banks in the U.S., entrust its billions of images to Viewpointe"". Thomas J. McGuire, Executive for Enterprise Operating Services at JPMorgan Chase, added, ""the migration of JPMorgan Chase''s digital check archive into Viewpointe facilitates the move to image exchange among banks nationwide and allows Viewpointe to realize the efficiencies associated with a universal vs. distributed archive.""
Viewpointe provides individual banks with a cost-effective alternative to acquiring, installing and managing capital intensive image and archive technology on their own. In addition, by taking advantage of Viewpointe''s experience and proven technology, participating banks are able to reduce their image platform installation time by as much as a third. Viewpointe provides an enterprise-wide archive that the banking industry can rely upon to vastly improve customer service, further reduce costs, and will enable banks to exchange checks and other documents with one another.
About Viewpointe
Viewpointe provides digital check and document image archiving and retrieval services to leading financial organizations like Bank of America, J.P. Morgan Chase & Co. and First Tennessee National Bank. Viewpointe Archive Services, founded in 2000, is a limited liability corporation formed by Bank of America, J.P. Morgan Chase & Co. and IBM. Viewpointe has offices in Charlotte, Houston, Dallas, Boulder, Rutherford (NJ), Atlanta, and Oakland. More information about Viewpointe and its services is available at www.viewpointe.com.