JPMorgan Chase wishes to disrupt the hire check with its payments platform for landlords and tenants

Vital Points

JPMorgan is piloting a platform it designed for house owners and administrators that automates the invoicing and receipt of on line hire payments, in accordance to Sam Yen, chief innovation officer of JPMorgan’s professional banking division.
“The wide vast majority of hire payments are still done by checks,” Yen reported. “If you speak to people to this working day, they normally say ‘The only rationale I have a checkbook however is to pay out my hire.'”
The bank hopes to obtain traction by featuring buyers useful insights by means of data and analytics, which include how to set lease ranges, wherever to make foreseeable future investments and even screening tenants, according to Yen.

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