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CFE Federal Credit Union goes paperless with IMM

01 December 2009  |  1453 views  |  0 Source: Integrated Media Management

Integrated Media Management (IMM), a document output management and automation technology provider, announced that Orlando, Fla. area-based CFE Federal Credit Union has selected its TotaleWorks suite of products, as well as its teller item capture solution.

With 117,000 members and more than $1.1 billion in assets, the credit union wanted to invest in technology that would allow it to streamline operations, combat check fraud and improve the environment by eliminating paper.

"IMM was one of the few vendors that had a teller item capture interface with our host system, which was one of our main requirements," Kevin Dougherty, senior vice president at CFE, said. "We were also really impressed with the way that the management team stepped up to address all of our concerns from the very beginning. IMM's culture matches our culture at CFE and that is key because we don't want to bring on vendors, we want business partners."

The TotaleWorks suite consists of TotaleAtlas, a document preparation engine that captures signatures electronically, TotaleChecks, software that laser prints batch and online institution official checks on blank security paper, and TotaleReceipts, an automated teller receipt solution. Additionally, CFE will have real-time check capture at the teller line with IMM's teller item capture product. All of the solutions are seamlessly integrated with the credit union's host system.

"We always want to be on the forefront of technology and this is something that we see as the next step away from paper and physical trails to the virtual environment," Dougherty added. "Now every transaction will be electronically stored with the receipt, signature and check image, making it easier to access past transactions for our members. We expect that our members will really appreciate this new level of security and will increase their trust in us."

"Increasing productivity and reducing operating costs have always been a concern of credit unions, but now using technology to prevent fraud is key as well," Chuck Klein, CEO of IMM, said. "The TotaleWorks and Teller Item Capture technologies address these issues and provide benefits to credit unions of all sizes, from smaller financial institutions to a one with more than one billion dollars in assets, like CFE. We are very proud that CFE chose IMM to advance its automation process."

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