VSoft, a global information and technology provider of process improvement solutions for financial institutions, has announced that two Wisconsin-based credit unions, Altra FCU and Pioneer CU have implemented its outsourced branch item capture solution. The outsourced solution is offered on ASP platform, VSoft Managed Services (VMS).
By outsourcing item processing to VMS, both credit unions can offer their members check imaging services while shifting the burden of running the day-to-day operations. After capturing items and sending an Electronic Cash Letter (ECL) directly to VMS, VSoft’s automated image repair technology, IRIS, reduces errors while processing.
VMS then transmits the ECL to the Fed or other peer exchange network as designated by the institution. The inbuilt digital dashboard lets users monitor the entire system from their desktops with real-time reporting and monitoring tools, allowing for efficient supervision and review of daily activities.
Mary Isaacs, senior vice president of Altra FCU, said: “At Altra FCU, we constantly strive to offer the best products and services at the most competitive price for our members. Because VSoft’s solution is a complete package and easily integrates with all of our distributed capture points, we are eager to roll out the solution to our 14 branches and transfer the added conveniences to all of our members.”
Murthy Veeraghanta, chairman of Vsoft, said: “The integration capabilities of VSoft solutions are the best in the industry and can interface with a wide variety of distributed capture applications. Altra FCU and Pioneer CU can now offer their members an advanced item processing and imaging system. With the outsourced service they can now focus more on enhancing their business relationships to keep pace with a fast-changing marketplace and eventually move ahead of their competition.”
