News

Omega Financial launches check-processing technology

April 27, 2005

MOSINEE, Wis. - Pennsylvania-based Omega Financial and Wausau Financial Systems successfully launched live-image exchange with the Federal Reserve banks, according to a news release. Wausau's Optima3 Check Processing V4.21 provides the base technology.

Upon completing its merger with Sun Bancorp in September 2004, Omega Financial began planning to position its 68 branches for distributed capture. Beyond the Optima3 V4.21 upgrade, Omega chose WFS' branch capture solution, working in conjunction with Unisys' Source NDP tabletop scanner.

"Our end-of-day process has become so much more simplified," said Mike Shuey of Omega's electronic banking division. "What once required drive and flight time exceeding two hours or more is now completed by a few clicks of the mouse in our item processing software."

Check Processing V4.21 includes capture, archive and performance modules in a secure, permission-based environment.

"The Federal Reserve Banks are excited to provide our customers with access to image deposit and presentment services that can help them realize the benefits of Check 21," said Anthony T. Scafide, assistant vice president of customer relations for Federal Reserve Bank of Philadelphia.

FedForwardSM Image Cash Letter Deposit service electronically transmits deposited check images to Federal Reserve banks across the country for presentment to the paying banks as images or substitute checks.