JPMorgan Chase to Digitize Financial Statements, Invoices, Checks

By the end of next year, more than 3,000 employees around the world will be using the Oracle document management software.

Oracle announced last night that JPMorgan Chase will implement its Distributed Document Capture across the company worldwide to scan and store a broad range of business documents including loan applications, financial statements, invoices and checks.

JPMorgan Chase expects to benefit from faster document cycle times, improved regulatory compliance and records management, more automated business processes, and better access to information.

Oracle Distributed Document Capture initially will be rolled out to more than 750 U.S. users at JPMorgan Chase. By the end of 2009, more than 3,000 employees across the U.S., Europe, Africa and Asia are expected to be using the software.

"Oracle Distributed Document Capture is designed to help us increase efficiency and gain tighter control over records for compliance requirements," said Trevor Salt, manager of distributed document capture for JPMorgan Chase & Co.