Digital services help businesses easily monitor for fraud while managing their cash flow
Access to reliable online security has never been more critical for businesses. In fact, 81% of business owners experienced payments fraud last year, according to a recent survey by J.P. Morgan and the Association for Financial Professionals (AFP). To help businesses protect against potential threats, JPMorgan Chase introduced Fraud Protection Services, a new digital hub with enhanced fraud prevention tools that helps small and mid-sized clients protect their businesses and manage money safely.
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“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.”
The new offering is available online to the bank’s millions of small to mid-sized business clients. Businesses can easily enroll and access Chase’s suite of fraud tools through a dashboard that helps clients take full advantage of security features, including enhanced check monitoring and protection, while helping them better manage their cash.
“We want business owners to know we have their back,” says Jennifer Roberts, CEO of Chase Business Banking. “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.”
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New and improved fraud prevention tools include:
- ACH Debit Block: Block unauthorized users from withdrawing money out of accounts digitally and automatically
- Check Protection: Get real-time fraud notifications to determine if checks should be paid or returned
- Check Monitoring: Monitor and review checks so users can approve or reject payment
- Security Enrollment Status: Illustrates potential fraud risk while encouraging users to make their accounts safer
“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.
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