City National Bank licenses VSoft branch item capture application
16 November 2005 | 1118 views | 0
VSoft Corporation, a global information and technology provider of process improvement tools for financial institutions, announced at the Bank Administration Institute (BAI) Retail Delivery Conference & Expo 2005 that City National Bank of West Virginia will extend its integration of VSoft's eDesk Imaging Solutions suite by planning to implement the VSoft Branch Item Capture solution at more than half of its 68 branches.
The implementation will allow City National Bank; a $2.5 billion institution throughout West Virginia, Kentucky and Ohio, to reduce the amount of time needed for item processing and eliminate the costs associated with manual item transfer.
"In order to improve our member service and increase the security and efficiency of our item transfer processes, we are consistently working to speed our item process and transfer procedures," said Chris Martin, vice president, City National Bank of West Virginia. "VSoft's Branch Item Capture solution will significantly streamline these workflow processes. Their solutions are flexible, progressive, and scaleable; and are easily implemented through well-known support systems. Using one trusted vendor for imaging, processing, and remittance reduces our operating costs and increases the security of our daily operations. Furthermore, by increasing item processing and transfer efficiency, we create benefits for our customers such as expanding their deposit options and streamlining access to their financial transactions."
VSoft's Branch Item Capture is a branch and teller level application, which captures images and data for central site processing, increasing back-office productivity and expediting proof-of-deposit processing. The solution increases the clearing speed of items deposited at individual branches by providing immediate information transfer capabilities between the branches and the central depository. Image transfer capabilities eliminate the need for couriers to visit each bank branch, pick up their respective deposits and bring them to the central depository to be handled and processed. Each branch is equipped with its own scanner and its own customized version of the VSoft software. Delivery costs are reduced and items clear almost instantaneously, reducing the opportunity for fraud.
"Our software allows customers to increase throughput and operator productivity through multi-bank image processing capabilities and user-friendly imaging platforms," said Murthy Veeraghanta, president, VSoft Corporation. "Our eDesk software family interfaces with major sorter vendors and uses back-office data recognition systems to increase overall performance at the branch level. By extending City National Bank's relationship with VSoft, we are helping them to capitalize on the industry's changing technologies, and to experience greater time and labor efficiencies."