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JPMorgan Chase Simplifies Secure Transaction Authentication on Its Internet Cash Management Portal Via First-to-Market Solution

Posted on: Monday, 10 October 2005, 12:00 CDT

JPMorgan ACCESS Introduces Patent-Pending Technology That Uses SecurID for Level of Security Formerly Available Only Through Digital Certificates

JPMorgan Chase, a full-service provider of cash management, trade finance, and treasury solutions, announced today it has deployed an innovative digital signing solution for its Internet cash management portal. JPMorgan ACCESS becomes the first cash portal in the industry to introduce patent-pending technology that allows the use of RSA SecurID tokens for a level of security on transactions previously only available through digital certificates.

Through this new proprietary technology, clients using JPMorgan ACCESS can now authenticate themselves as the user of the system, as well as the transaction they are working on, in one secure step. In addition to offering powerful security and ease-of-use, the technology is extremely portable.

"With the deployment of this innovative new enhancement to our cash management portal, JPMorgan Chase has combined the power of digital certificates with the simplicity of a secure token," stated Celeste Hewlett, senior vice president, Treasury Internet Services, JPMorgan Chase. "Our customers will now be able to avoid the hassles of the Public Key Infrastructure process through this easy-to-use means for delivering signed transactions without sacrificing their existing high level of security."

"We pioneered a solution that combines widely accepted SecurID tokens with digital signing necessary to guarantee the integrity of financial transactions. With JPMorgan Chase's new authentication protocol, there is less administration burden, along with greater simplicity for end-users - all without sacrificing security." said Nik Sathe, chief architect, Treasury Services, JPMorgan Chase.

Key benefits of this patent-pending solution include:

-- Digital signing of transactions binding users to the transactions they initiate

-- Advanced encryption technology assuring end-to-end security of transactions

-- Secure log record verification of transaction, originator and recipient

JPMorgan ACCESS users began utilizing secure tokens in a phased migration that started in July and will be completed by December 2005.

There were also several enhancements to the JPMorgan ACCESS cash management portal capabilities, including:

-- Cash balances and transactions reporting - Refined transaction search and added account summary drilldown features have been added

-- Funds transfer initiation - Reporting to include daily rates and reference numbers

-- ACH initiation - Users will now be able to execute applications for items such as child support and tax payments

-- User set-up - Extended grace period before User ID becomes inactive

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.2 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. The Treasury Services (www.jpmorganchase.com/ts) business of JPMorgan Chase is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and a presence in 36 countries, JPMorgan Treasury Services is the world's largest provider of treasury management services. Information about the firm is available at www.jpmorganchase.com.

Source: Business Wire

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