VSoft's SaaS model provides financial institutions with item capture and image processing solutions that have all of the functionality of a full in-house deployment while leveraging the infrastructure of VSoft's data center, VSoft Managed Services.

"Our SaaS model meets a strong demand in the financial industry to have the control needed to manage a complete imaging platform without having the capital expenditures and economic burden of hardware maintenance," said Murthy Veeraghanta, chairman and managing director, VSoft Corporation. "In addition, VSoft's imaging solutions make the model very attractive to community banks and credit unions that are looking to expand their payments offerings. Additionally, the synergy of consolidated image-processing services on one platform will reduce costs."

Phoenix-based $1.6 billion Arizona Federal Credit Union selected to leverage this model for its image-based item processing. The credit union will take advantage of VSoft's data center architecture, disaster recovery provisions, and system maintenance, while still having the administration and daily operations access and flexibility of an in-house solution.

"Arizona Federal is dedicated to meeting our members' financial needs by expanding services available to them without increasing the credit union's costs. VSoft's SaaS model is a great fit for our business," said Randy Baldwin, CFO at Arizona Federal. "VSoft is the only provider we found that could offer a complete suite of easy-to-use and easy-to-implement imaging solutions in the SaaS model, enabling us to have all the control we need without a hefty investment or maintenance requirements."