Haven Savings Bank chooses VSoft deposit capture tech

Source: VSoft Corporation

VSoft Corporation, a global provider of information and technology solutions for financial institutions, announced that $895 million-asset Haven Savings Bank, based in Hoboken, N.J., has selected its OnView Branch Deposit, OnView Business Deposit as well as the complete suite of back-office processing applications.

The solutions will streamline operational efficiencies while integrating into the bank’s core platform. Additionally, the bank will shift its check processing solutions to VSoft’s data center, an outsourcing alternative that delivers high-capacity network systems with a dependable infrastructure and tier-four level security.

Haven Savings Bank will use the OnView suite of products to facilitate payment processing services, data perfection, image exchange for inclearing and cash letters, fraud risk reduction, as well as research and archive functionality. The application’s open architecture includes business operations, rules and workflows, and data integration. VSoft’s single platform approach allows financial institutions to setup and manage business rules in one place that can be applied to deposits and payments across all channels.

Beyond bringing image capture to the branch, VSoft’s OnView Branch Deposit automates the validation and balancing of check-based deposits and payments. Haven Savings will seamlessly capture large deposits behind the counter, which will substantially increase back-office productivity, as well as expedite and reduce the cost of processing. OnView Business Deposit will allow the bank to offer their business customers an easy way to deposit multiple checks anywhere and anytime. Business customers will be able to reduce preparation time, overhead, operational costs, and branch visits by depositing checks using a variety of devices.

“As we continue to grow, we were in need of modern processing technology to not only improve bank operations, but also the customer experience,” said Paul Deponte, SVP, Corporate Secretary & Controller for Haven Savings Bank. “With VSoft, we felt like we would not only be gaining a best-of-breed solution, but a long-term, strategic partner. This was essential for us and we look forward to working with them to enhance our processes and provide outstanding service to our customers, both retail and commercial.”

“Consumer expectations have drastically changed the landscape of the financial industry. Financial institutions have to keep up with their accountholders’ desires by deploying new technology. For many financial institutions, it is not uncommon for multiple platforms from different vendors to be leveraged to support a single financial transaction or payment type, including check processing,” said Murthy Veeraghanta, chairman and CEO of VSoft Corporation. “Innovative institutions like Haven Savings are quickly recognizing the need to adopt a more a unified platform built with modern technology and straight-through processing to ensure optimum processing capacity for large volumes, and provide efficiency, reliability and cost savings. In turn, they will drive growth, increase revenue and maintain a customer-centric view. We look forward to being a part of their transition.”  

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