News

Nevada credit union automating ATM deposits with TWS software

September 22, 2004

CLEARWATER, Fla. - Nevada Federal Credit Union, the largest credit union in Nevada, expanded its four-year partnership with TWS Systems, Inc. to further streamline and automate its ATM deposit processing.

The credit union selected several Imagecenter software modules, including AlertManager, a real-time fraud prevention solution, and Omega, a Microsoft .NET-based ATM deposit management solution that automates the processing and management of ATM deposits.

According to a news release, Imagecenter has built-in truncation capabilities, including the ability to send and receive substitute documents, which will position Nevada Federal to take advantage of the cost saving benefits offered through Check 21.

According to Pete Jenkins, senior vice president of Administrative Services for Nevada Federal, the credit union processes more than one million ATM transactions a month, with more than 100,000 of them being deposits.

"TWS' software enables us to process these transactions faster and more efficiently, helping us to better serve our members. Additionally, the software protects both the credit union and the members from fraud, which gives us both an added sense of security," Jenkins said.

Since implementing TWS' solutions, Nevada Federal has added 13 new ATMs without increasing the amount of staff or time dedicated to deposit processing. Omega will further enable the credit union to streamline and automate ATM deposit processing from start to finish. Using digital-image processing and handwriting recognition (CAR/LAR/ICR) technology to read check deposit amounts, Omega reduces data entry for ATM reconciliation.

Using Alertmanager, Nevada Federal can customize fraud prevention criteria to meet its specific needs. The system reviews each transaction at the institution and automatically sends an alert or warning when any of the pre-set fraud prevention criteria is met. In addition, the credit union has access to an online network where they can get information on fraud activity and updates on future training conferences.

"We understand that in today's Check 21 marketplace, credit unions need an open solution that will not only increase processing efficiency, but also help eliminate fraud for the entire institution," said Milton King, president of TWS.