VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, and Southwest Corporate, an $11.5 billion asset corporate credit union serving 1,300 credit unions in 42 states, announced that Southwest has chosen to offer VSoft’s Merchant Capture and ATM Image Capture solutions to its credit unions. These two solutions will augment Southwest’s Remote Deposit Services offering, allowing its credit unions to capture check images at remote locations for clearing.
“VSoft’s Merchant and ATM Image Capture solutions add greater capabilities for Southwest to better serve the diverse needs of our credit union members,” said Jody Beck, senior vice president, Southwest Corporate. “There has been a growing demand for merchant and ATM capture solutions in the credit union industry. By utilizing VSoft’s software, we will not only strengthen member relationships by meeting their specific needs, but our credit unions and their business members will realize cost savings and efficiency improvements from Remote Capture and image exchange services.”
The Merchant Capture solution allows credit unions to provide their business members the ability to remotely capture and electronically send deposits, eliminating a trip to the credit union for deposits. Business members use a low speed scanner to capture the check images and transfer the data through a secure transmission. Businesses can consolidate their deposits into a single preferred financial institution, averting any geographic dependency. Funds become available sooner as personnel can simply scan the checks as they receive them.
VSoft’s ATM Image Capture interfaces with image-based ATMs, allowing members of Southwest’s credit unions to deposit checks directly into the ATM. Once the image is captured at the ATM, the software sends it to the central check-processing site. Each check is positively matched against the ATM records, and a complete audit trail is maintained for clearing purposes. ATM balancing workflows are automated, allowing the institution to decrease the resources needed to support multiple ATMs.
“We were pleased with Southwest Corporate’s decision to implement two of VSoft’s imaging solutions to its large network of credit unions across the country,” said Murthy Veeraghanta, president, VSoft Corporation. “With Merchant Capture, Southwest’s member credit unions will be able to capture new business without any geographic restraints. Member credit unions will extend their banking services beyond the traditional branch by deploying ATM Capture, allowing members the convenience and security of image supported check depositing.”
About Southwest Corporate
Southwest Corporate Federal Credit Union is a $11.5 billion Plano, TX-based institution that serves the financial needs of more than 1,300 member credit unions.
About VSoft Corporation
Established in 1996, VSoft Corporation is a global provider of financial technology solutions that improve service, reduce cost and maximize efficiency. In use by over 1,700 financial institutions worldwide, VSoft’s broad image-based solution range includes distributed deposit and payment capture across all points of presentment, back office check processing, image exchange, document management, remittance and lockbox operations. Customers include banks, credit unions, savings institutions, transaction processors, governments, utilities, telecommunications and retail organizations. VSoft’s proven products and services ensure versatile and rapid delivery of solutions to mission-critical needs. For more information call (770) 225-7692 or visit vsoftcorp.com.