News

Credit union utilizes Check 21 benefits with VSoft's branch item capture solution

June 20, 2011

VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, announced today that Louisville, Ky.-based Park Community Federal Credit Union will implement its branch item capture solution to enhance check processing flexibility and accuracy across the 13-branch network.

The credit union will leverage the solution through VSoft’s global data center, VServe.

VSoft’s branch item capture solution captures deposit images, identifies amounts and balances transitions at the teller line to reduce errors and decrease costs. Automated amount and MICR line recognition improve the precision and speed of transaction processing.

“Our branch item capture product features multi-channel image processing to send and receive images, enabling Park Community to maximize the benefits associated with Check 21, while also ensuring full compliance and regulatory guidelines are met through our VServe data center,” said Murthy Veeraghanta, chairman and managing director, VSoft Corporation.

Park Community will also implement VSoft’s archive and research applications to analyze transactions, deposits and returns, as well as to prevent duplicates from entering the processing system.