JPMorgan Chase unveils new Digital Hub for businesses fraud protection

By Pavithra R

JPMorgan Chase has announced the introduction of Fraud Protection Services, a new digital hub with enhanced fraud prevention tools to help small and mid-sized clients protect their businesses and manage money safely.

Today, access to reliable online security has never been more critical for businesses. According to a recent survey by J.P. Morgan and the Association for Financial Professionals, 81% of business owners experienced payments fraud last year. Businesses can easily enroll and access Chase’s suite of fraud tools through a dashboard that helps clients to take full advantage of security features, including enhanced check monitoring and protection while helping them better manage their cash.

The new and improved fraud prevention tools include:

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

“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,” said Jennifer Roberts, CEO of Chase Business Banking.

Beyond fraud prevention, Chase is helping businesses increase efficiency so they can easily run their operations and access powerful insights and tools. Its digital features include managing accounts online and on mobile, automating manual processes, reporting capabilities with real-time access to data and insights, content curation and additional support through administrators to assist or screen share with a Chase rep to troubleshoot

“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.

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. It 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.