JPMorgan Chase Rolls Out New Digital Hub, Tools to Protect Businesses Against Fraud

Rhea-AI Summary

JPMorgan Chase has launched Fraud Protection Services to help small and mid-sized businesses safeguard against payment fraud, which affected 81% of business owners last year. The service includes user-friendly tools like ACH Debit Block, Check Protection, and real-time notifications, available through a centralized dashboard. This initiative aims to enhance digital banking safety and efficiency for its clients. Chase seeks to empower business owners to focus on their operations while ensuring their banking activities remain secure.

Positive

• Launch of Fraud Protection Services enhances security for small and mid-sized businesses.
• Tools provided include ACH Debit Block and real-time fraud notifications.
• Service aims to improve operational efficiency for businesses.

Negative

• None.

NEW YORK--(BUSINESS WIRE)--Access to reliable online security has never been more critical for businesses today. In fact, 81% of business owners experienced payments fraud last year, according to a recent survey by J.P. Morgan and the Association for Financial Professionals (AFP®). To help businesses protect against potential threats, JPMorgan Chase today introduced Fraud Protection Services, a new digital hub with enhanced fraud prevention tools that helps small and mid-sized clients protect their businesses and manage money safely.

The new offering is available online to the bank’s millions of small to mid-sized business clients. Businesses can easily enroll and access Chase’s suite of fraud tools through a dashboard that helps clients take full advantage of security features, including enhanced check monitoring and protection, while helping them better manage their cash.

“We want business owners to know we have their back,” says Jennifer Roberts, CEO of Chase Business Banking. “Fraud is a major concern for them and can be devastating for businesses so we felt strongly that these safeguards should be easy to set up and intuitive to use.”

New and improved fraud prevention tools include:

1. ACH Debit Block: Block unauthorized users from withdrawing money out of accounts digitally and automatically
2. Check Protection: Get real-time fraud notifications to determine if checks should be paid or returned
3. Check Monitoring: Monitor and review checks so users can approve or reject payment
4. Security Enrollment Status: Illustrates potential fraud risk while encouraging users to make their accounts safer

“It’s our goal to make digital banking easy and safe so that leaders can get the right fraud tools in place and spend more time running their businesses,” said Jennifer Barker, Head of Product Delivery, JPMorgan Chase.

Beyond fraud prevention, Chase is helping businesses increase efficiency so they can easily run their operations and access powerful insights and tools. Digital features include:

• Going paperless: manage accounts online and on mobile
• Automating manual processes: bulk upload ACH files to simply collect payments
• Reporting capabilities: access to real time data and insights
• Additional support: add administrators to assist or screen share with a Chase rep to troubleshoot
• Curating content: read helpful insights and tips to better run your business

To enroll or to learn more about Chase Fraud Protection Services, please visit Chase for Business or Chase Connect.

About Chase

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $3.2 trillion and operations worldwide. Chase serves nearly half of America’s households with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: More than 4,900 branches in 38 states and the District of Columbia, 16,000 ATMs, mobile, online and by phone. For more information, go to chase.com.

About JPMorgan Chase Commercial Banking

JPMorgan Chase Commercial Banking is a business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $4.7 billion and operations worldwide. Through its Middle Market Banking & Specialized Industries, Corporate Client Banking & Specialized Industries and Commercial Real Estate businesses, Commercial Banking serves emerging startups to midsize businesses and large corporations as well as government entities, not-for-profit organizations, and commercial real estate investors, developers and owners. Clients are supported through every stage of growth with specialized industry expertise and tailored financial solutions including credit and financing, treasury and payment services, international banking and more. Information about JPMorgan Chase Commercial Banking is available at www.jpmorganchase.com/commercial.