Chase’s Technology Helps Speed On-Site Registration at Susan G. Komen Northeast Ohio Race for the Cure®

CLEVELAND--(BUSINESS WIRE)--JPMorgan Chase is helping the Susan G. Komen for the Cure® Northeast Ohio Affiliate streamline its registration and check collection process at this Saturday’s Race for the Cure. The Komen organization will use Chase’s Image Deposit Direct® (IDD) solution at the event to quickly scan and deposit hundreds of checks directly to its bank account.

“In the past, it often took us weeks to process all of the checks we collected on race day”

Komen has used Chase’s IDD solution to support treasury operations for two years. Saturday will be the first time that Komen will take the remote deposit technology to the field to perform check collection and processing. Komen expects to collect more than $100,000 on race day from late race entrants and donors.

“In the past, it often took us weeks to process all of the checks we collected on race day,” said Sophie Sureau, Komen Northeast Ohio Executive Director. “Thanks to Chase we now have the flexibility to manage this task outside of the office and deposit checks from the race day site. Chase’s solution will enable us to image and deposit all the funds from race day no later than noontime. By getting donations and registration fees into our bank account more quickly, we are improving cash flow and freeing up funds that can be used to support additional life-saving programs.”

“Chase is happy to partner with Komen Northeast Ohio and help ease their workload on race day,” said Blythe Masters, managing director, Chase and board chair of Komen New York.

Chase’s IDD solution enables clients to deposit checks and money orders from their place of business by scanning them into images and transmitting the images to Chase for clearing. Clients can make deposits to their Chase account from any location and import detailed deposit activity reports into their accounts receivable system. Scanned check and remittance information images are stored in Chase’s secure image archive and made available for up to 25 months.

IDD also offers strong deposit risk controls: Check images are automatically analyzed for signs of fraud; there are tools in place to help detect duplicate checks; and the electronic deposit process enables Chase to timely monitor deposit activity and stop suspicious activity in an automated way. In addition, having the ability to process checks on-site eliminates the possibility of losing or misplacing the checks before deposit, but most importantly speeds the deposit and therefore use of funds for client.

About Susan G. Komen for the Cure®

Nancy G. Brinker promised her dying sister, Susan G. Komen, she would do everything in her power to end breast cancer forever. In 1982, that promise became Susan G. Komen for the Cure and launched the global breast cancer movement. Today, Komen for the Cure is the world’s largest grassroots network of breast cancer survivors and activists fighting to save lives, empower people, ensure quality care for all and energize science to find the cures. Thanks to events like the Komen Race for the Cure®, we have invested nearly $1.5 billion to fulfill our promise, becoming the largest source of nonprofit funds dedicated to the fight against breast cancer in the world. For more information about Susan G. Komen for the Cure, breast health or breast cancer, visit komen.org or call 1-877 GO KOMEN.

About Susan G. Komen for the Cure Northeast Ohio Affiliate

Since 1994, the Komen Northeast Ohio Affiliate has raised $17 million to provide funding and support to Northeast Ohio agencies working to create a world without breast cancer. The agencies provide mammograms and screening, breast cancer education and ongoing support to women, men, their families and friends. Up to seventy-five percent of the money raised locally funds programs in Northeast Ohio, and the remaining 25 percent helps fund the Susan G. Komen for the Cure National Research Grant Program.

About Chase

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), which operates more than 5,100 branches and 15,000 ATMs nationally under the Chase brand. Chase has 146 million credit cards issued and serves consumers and small businesses through bank branches, ATMs and mortgage offices as well as through relationships with auto dealerships, schools and universities. Across Ohio, Chase operates more than 280 branches and 877 ATMs, serves nearly 80,000 businesses and employs over 19,000 people. More information about Chase is available at www.chase.com.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.