VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, announced today that Louisville, Ky.-based Park Community Federal Credit Union elected to implement its branch item capture solution to enhance check processing flexibility and accuracy across the 13-branch network.
The credit union will leverage the solution through VSoft's global data center, VServe.
VSoft's branch item capture solution captures deposit images, identifies amounts and balances transitions at the teller line to reduce errors and decrease costs. Automated amount and MICR line recognition improve the precision and speed of transaction processing. Park Community will benefit from the high capacity network systems and reliable infrastructure of VServe, which delivers VSoft's scalable solutions either as an ASP or hosted model.
"With our fairly substantial number of branches it was important for the solution we adopted for branch item capture solution to be flexible and capable of greatly improving back office efficiencies and reducing operational expenses," said Don Browning, assistant vice president of Electronic Services, Park Community Federal Credit Union. "VSoft's full suite of check processing solutions will enable us to add solutions and continuously strengthen the services we provide our members as we grow."
"Our branch item capture product features multi-channel image processing to send and receive images, enabling Park Community to maximize the benefits associated with Check 21, while also ensuring full compliance and regulatory guidelines are met through our VServe data center," said Murthy Veeraghanta, chairman and managing director, VSoft Corporation. "Park Community now has the tools and service-oriented features to enhance efficiency, as well as access to additional platforms allowing the credit union to further implement progressive solutions far into its future."
Park Community will also implement VSoft's archive and research applications to analyze transactions, deposits and returns, as well as duplicate detection to prevent duplicates from entering the processing system.