VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, announced today that $280 million Guardian Credit Union selected its ASP platform, VServe, to handle branch item capture, image exchange and research/archiving of its images.
Prior to this, Guardian, the largest credit union headquartered in Milwaukee county, was creating and delivering costly paper cash letters for clearing and settlement. With VServe, the credit union has now eliminated paper cash letters and their associated daily courier runs and improved collection times.
Guardian executives cited VSoft's complete spectrum of imaging services as a strong factor in their decision. The credit union plans to add a series of remote deposit capture solutions to further reduce costs and maximize efficiencies, including home office, ATM and merchant capture. Additional benefits the credit union realized include; increased functionality for its branch tellers; the ability to capture, key, balance and handle reject/repair items with ease; and duplicate detection technology.
"The advantages of migrating to a Check 21 solution were clear," explained Dean Lampe, vice president of operations at Guardian. "With VSoft we have experienced immediate gains and have the added value of doing business with a single-source provider that can support us well into the future."
"It is our goal at VSoft to provide the service and delivery channels that enable credit unions like Guardian to reduce cost and maximize efficiency according to its individual business strategy," said Murthy Veeraghanta, chairman and managing director, VSoft Corporation. "Furthermore, we are committed to being a trusted partner as the credit union continues to expand its payment services. Guardian provides an excellent example of a successful financial institution: one that is maximizing its processes for an immediate gain with aggressive improvements planned for the future."