Citizens Equity First CU licenses VSoft imaging technology
VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, announced that Citizens Equity First Credit Union (CEFCU), a $3.3 billion asset size credit union with 19 branches throughout central Illinois, has chosen its Image Capture, Image Exchange, Archive, Branch Item Capture, Merchant Capture, Image Statements and eStatements solutions.
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The implementation will streamline their workflow and eliminate the need for paper cash letters for check clearing.
"The VSoft implementation positions us well in our migration to an image capture environment from a very paper-based deposit source today," said Todd Haller, vice president of electronic funds transfer, CEFCU. "The Imaging Statements and Remote Capture solutions will enable CEFCU to provide new and innovative services to all members through their preferred delivery channel. CEFCU was looking for a vendor that could offer an end-to-end solution set, and we have found just that in VSoft."
By implementing VSoft's suite of imaging solutions, CEFCU can capture check images at their branch and merchant customer locations and transmit image cash letters for clearing. All images captured within the system can be archived for future research and retrieval. Electronic statements can be automatically generated, reducing the time and labor costs associated with traditional statement rendering. VSoft's broad solution set helps credit unions, such as CEFCU, realize the benefits of Straight Through Image Processing.
"By utilizing VSoft's comprehensive solution line, CEFCU will realize the benefits of straight through image processing from creation, processing and transmission of the check images to long-term storage and retrieval," said Murthy Veeraghanta, president, VSoft Corporation. "As the industry moves from paper to images, CEFCU will be poised to offer their members the best services, thus reducing costs and increasing overall productivity for the credit union."