JPMorgan Chase launches new digital platform for fraud protection

JPMorgan Chase has launched a new digital hub called Fraud Protection Services that comes with improved fraud prevention tools for its small to mid-sized business clients.

The digital hub is said to help the clients in protecting their businesses and safely manage money.

JPMorgan Chase said that its suite of fraud tools can be accessible to businesses through a dashboard after an easy enrolment process.

The fraud tools are expected to help clients take complete advantage of security features. These include improved check monitoring and protection, while helping them in better management of their cash, said JPMorgan Chase.

Jennifer Roberts – CEO of Chase Business Banking said: “We want business owners to know we have their back. 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.”

JPMorgan Chase launches new digital platform for fraud protection. Photo courtesy of C R/Wikipedia.org.

Some of the features that the new and improved fraud prevention tools offer are ACH Debit Block, Check Protection, Check Monitoring, and Security Enrollment Status.

The ACH Debit Block feature enables digitally and automatically blocking unauthorized users from withdrawing money out of accounts. On the other hand, the Check Protection feature helps businesses to get fraud notifications in real-time to determine if checks have to be paid or returned.

As per JPMorgan Chase, the Check Monitoring feature helps businesses to monitor and review checks enabling them to either approve or reject payment.

The Security Enrollment Status feature is said to highlight potential fraud risk while encouraging users in making their accounts safer.

Jennifer Barker – Head of Product Delivery at JPMorgan Chase said: “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.”

Apart from fraud prevention, JPMorgan Chase is said to be helping businesses in boosting efficiency for easily carrying out their operations and also for accessing powerful insights and tools through more digital features.