VSoft reports Marquette Savings Bank deal
13 May 2008 | 1743 views | 0
VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, announced that Marquette Savings Bank (Marquette) has chosen to implement its Agile Branch - Back Counter (branch capture), Centrum Exchange (image exchange) and Centrum Returns - OUT (image returns).
The implementation also includes an upgrade of the VSoft image statements and archive systems which Marquette has been utilizing for six years.
Established in 1908 and headquartered in Erie, Penn., Marquette has served its community for 100 years. With more than $495 million in assets, the bank commits itself to outstanding, personalized customer service through its eight branch locations. To provide high levels of service, Marquette partnered with VSoft to provide faster funds availability through imaging technology.
"VSoft has been a trusted vendor for Marquette for several years," said Kelly Montefiori, vice president of information technology and operations, Marquette Savings Bank. "We have been pleased with our current imaging capabilities. After observing VSoft's solutions at other banks, we are confident our expansion of services will be fiscally prudent and operationally efficient."
VSoft's Agile Branch - Back Counter automates the validation and balancing of check-based deposits and payments. Marquette's branch locations use check scanners to capture images and data. Items are then electronically transmitted to the central processing site, eliminating the need for courier services. Once the images are received at the central site, VSoft's Centrum Exchange prepares electronic cash letters for exchange with the Federal Reserve. If an endpoint cannot receive images, the system will print substitute checks. The bank also utilizes VSoft's Centrum Returns - OUT to process and transmit outgoing returns. Utilizing the imaging software, Marquette increases back-office productivity, expedites processing and reduces the cost of processing.
"Marquette's addition of our products deepens our relationship with the institution and allows them to enhance the products and services offered to their customers," said Murthy Veeraghanta, president, VSoft Corporation. "VSoft's Centrum Branch - Back Counter extends the benefits of image exchange to the remoto o the remote branch locations' operations and enables the processing of images throughout the payment lifecycle to achieve what we call Straight Through Image Processing."