ATLANTA--(BUSINESS WIRE)--June 20, 2006--VSoft Corporation, a global information and technology provider of process-improvement tools for financial institutions, announced that Northwest Corporate FCU, a Pacific Northwest based corporate credit union offering financial services to more than 200 credit unions throughout Oregon, Washington, Idaho, Alaska, and California, has chosen to implement its eDesk Branch Item Capture, Genesis (Check 21), Returns, and Adjustments solutions. Northwest Corporate will offer Branch Item Capture to its members, allowing them to capture and exchange images rather than transporting physical checks and share drafts.
VSoft's Branch Item Capture provides full-featured, image-enabled data capture functions. Branch Item Capture enables Northwest Corporate's members to capture share draft (check) images at the branch level rather than transporting them to the central site. Branch personnel use small capture devices to capture the item's data and image. As checks are imaged and captured throughout the day, the images and MICR data can then be sent electronically to Northwest Corporate's office. All credit union members will have access to search and research in an image archive, including reports generated.
"VSoft's solutions provide Northwest Corporate with a full-service, cost-effective system, as well as a reliable system being used by more than 500 branches throughout the corporate credit union network," said Kim Bickford, senior vice president and chief operations officer, Northwest Corporate. "We expect VSoft's solutions to provide astounding service with accurate and timely files, increased availability of funds, and lower operating costs for our credit unions."
Using VSoft's eDesk Genesis, Northwest Corporate can exchange images received from its members in compliance with Check 21. eDesk Genesis allows Northwest Corporate to exchange electronic cash letters with images directly, through exchange organizations, or print substitute checks if an endpoint cannot receive electronic cash letters.
"The array of VSoft solutions Northwest Corporate has chosen to implement will allow them to offer their members a complete imaging solution," said Murthy Veeraghanta, president, VSoft Corporation. "Employing VSoft's solutions at Northwest Corporate's central site will allow them to capitalize on changing technologies while experiencing greater time and labor efficiencies. These benefits along with the benefits of Branch Item Capture will be passed along to their members to improve productivity and efficiency at each remote location."
About Northwest Corporate Federal Credit Union
Northwest Corporate FCU, a Pacific Northwest based corporate credit union with a national field of membership, offers a wide variety of financial services, including: investments, lending, item processing, and payment and correspondent services. Learn more about Northwest Corporate at www.nwcorporate.org.
About VSoft Corporation
A global information and technology provider of process improvement tools for financial institutions, Atlanta-based VSoft Corporation has been offering scaleable, flexible solutions since its inception in 1996. Led by industry experts with proven track records in excellence, VSoft Corporation is proud of its ability to provide technology designed for easy implementation and migration from the proprietary banking systems of the past. VSoft's experienced systems integration teams ensure that every customer is met with VSoft Advantage. VSoft Corporation has multiple products, services and support that cover back office, operations, lockbox processing, Check 21 legislation, and retail functions. These solutions are designed to maximize core efficiencies, while reducing operational costs. More information about the company can be found at www.vsoftcorp.com.
For VSoft Corporation
Erin Ward, 678-781-7232