TLDR Tech / Fintech
JPMorgan taps AI to process checks
JPMorgan Chase is using AI and robotics to automate lockbox processing for paper checks, with robots built with Ripcord that can open envelopes, remove and unfold documents, remove staples, and scan correspondence. The bank says the system now automates much of the work behind 480 million annual checks and documents with over 99.9% accuracy, reducing manual keystrokes while helping staff focus on exceptions, fraud risk, and higher-value receivables work.
Read the full story