JPMorganChase Invests Heavily in AI-Powered Lockbox Automation

JPMorganChase is updating its lockbox business with AI-powered automation and robotics as part of its $19.8 billion technology investment.

The bank contends that checks remain a critical part of how many businesses operate, despite being lauded as a dying payment method.

JPMorganChase has deployed robots in its Chicago lockbox location and plans to deploy them at six other locations across the U.S.

The robots can open envelopes, remove staples, scan documents, and detect different types of paper folds and envelope combinations.

The bank processed over 130 million checks in 2025 alone, each accompanied by invoices and remittance information that needed to be captured and matched correctly.