Great Western Bank deploys VSoft image processing across branch network
07 January 2013 | 1146 views | 0
VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, announced today that Sioux Falls, S.D.-based Great Western Bank selected VSoft's branch and item capture and image processing solutions for its nearly two hundred branches.
Great Western Bank recently experienced significant growth due to several acquisitions, reaching over $9 billion in assets, and expects this number to double in the next two years. To accommodate rapid growth goals, the bank replaced its existing payments platform with VSoft's branch item capture solution, which enables branch operators to key, balance and reject/repair images at point of capture, rather than defer that work to a central operations area. The bank is also performing inclearing, and transmission of cash letters with VSoft's image exchange solution.
"As our expansion continues, we need a solution that gives us the flexibility to review images at any point," said Kirby Shroll, executive vice president of bank operations for Great Western Bank. "VSoft provides the exact technology we were looking for. Its comprehensive suite of solutions delivers the features and functionality that meet our needs, and we are confident that VSoft will better prepare us to handle increased volume with the utmost efficiency during our time of rapid growth."
Great Western Bank will also use VSoft solutions to enable image delivery through customer e-statements, CDs or by interfacing directly to home banking systems. The bank will further improve branch processing procedures by deploying VSoft's application designed to prevent duplicate items.
"VSoft solutions are designed to integrate seamlessly with an institution's current system. Allowing the bank to choose between a centralized or in-branch processing model will be a tremendous asset to Great Western Bank during its expansion," said Murthy Veeraghanta, chairman and chief executive officer, VSoft Corporation. "VSoft's branch item capture solution meets Great Western Bank's immediate needs and offers complete scalability to handle greater volumes with ease and accuracy as their growth continues."