VACORP Offers Remote Image Capture to Members with VSoft's eDesk;
Branch Item Capture System Boosts Customer Service and Cuts Costs
ATLANTA--(BUSINESS WIRE)--June 13, 2006--VSoft Corporation, a global information and technology provider of process improvement tools for financial institutions, announced that VACORP Federal Credit Union (VACORP), a member owned financial cooperative serving over 200 credit unions, has chosen to implement its Branch Item Capture solution through Palmetto Cooperative Services. Palmetto provides item processing services for credit unions in Virginia and North and South Carolina. VACORP will roll out VSoft's Branch Item Capture solution to its 200 members, reducing costs and eliminating geographic barriers.
VSoft's Branch Item Capture provides full-featured, image-enabled data capture functions. Branch Item Capture enables VACORP'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 Palmetto's central site for processing. All credit union members will have access to search and research in the image archive, including reports generated.
"Palmetto Cooperative and VSoft's turnkey branch capture solution will enable our members to increase the availability of funds and reduce expenses associated with encoding, microfilming, and courier costs," said Jim Hansen, President/CEO, VACORP. "We reviewed several software options, and VSoft had the most user friendly, intuitive, yet flexible system available. Our members will love the simplicity of the system."
Once the images are captured at the credit union, the image files and data are electronically sent to Palmetto Cooperative Services for image exchange and archiving. Via the VSoft system, each of its members will have access to the image archive including reports generated.
"By utilizing our Branch Item Capture solution, VACORP will be able to reduce operating costs and eliminate geographic barriers for their members," said Murthy Veeraghanta, president, VSoft Corporation. "Extending VACORP's image capture capabilities to member branches, and using Palmetto as a central processing site, enables them to improve efficiencies and deliver more value to credit union members."
About VACORP Federal Credit Union
VACORP Federal Credit Union is a financial cooperative that provides investment, liquidity and correspondent services to its member credit unions.
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 a proven track record 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.
Media Contact for VSoft Corporation, Atlanta
Erin Ward, 678-781-7232