Northern FCU Chooses VSoft for Remote Capture and Image Exchange

Imaging technology eliminates costs, improves efficiency

ATLANTA--(allCUnews)--VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, announced that Northern Federal Credit Union, a multi-employer credit union headquartered in Watertown, NY, has chosen to implement its image capture, Check 21 and branch capture solutions. Northern FCU currently has five branches serving more than 22,000 members with plans to expand its branch network with VSoft’s imaging technology.

“VSoft’s imaging solutions will allow Northern FCU to reduce costs, improve branch operations and further enhance plans to expand our network throughout the state,” said Bonnie Whalen, Operations Manager, Northern Federal Credit Union. “Enabling our branches with image capture and exchange capabilities was the next logical step in our plans for company growth. Image capture and exchange will allow us to serve our members more quickly and efficiently.”

The VSoft solutions will allow Northern FCU to capture images at the branch locations with small capture devices. Check images and MICR data are then sent electronically to the central location, eliminating geographic boundaries and the need to physically transport the checks. The images are transmitted to the central site imaging system, allowing Northern FCU to archive and research deposits and account information with minimal time and effort. The Check 21 solution enables Northern FCU to exchange electronic cash letters with images directly or through exchange organizations and eliminates the need to encode and courier outbound checks. Reduced float will allow Northern FCU to provide better service to its members and improve their overall operational efficiencies while also realizing cost savings.

“VSoft is committed to providing excellent software solutions that optimize productivity and meet our customers’ needs,” said Murthy Veeraghanta, president, VSoft Corporation. “Enhancing Northern FCU’s check processing with VSoft’s solutions and eliminating the need for couriers will significantly cut back on costs and increase their back office productivity. Northern FCU’s decision to move into the imaging arena will prove to be a positive step in the growth path of their company as well as improving service to their members.”

About Northern Federal Credit Union

Northern Federal Credit Union is a community based credit union that also serves over 200 multi-employer businesses, organizations, medical facilities, school districts and municipalities throughout the North Country. For more information on how you can become a Northern FCU member or about products and services that Northern FCU offers, please visit our website at www.northernfcu.com.

About VSoft Corporation

Established in 1996, VSoft Corporation is a global provider of financial technology solutions that improve service, reduce cost and maximize efficiency. Its broad image-based solutions include distributed deposit and payment capture across all points of presentment, back office check processing, image exchange, document management, remittance and lockbox operations. Customers include banks, credit unions, savings institutions, transaction processors, governments, utilities, telecommunications and retail organizations. VSoft’s proven products and services ensure versatile and rapid delivery of solutions to mission-critical needs.

Included in Deloitte & Touche’s Technology Fast 50 and the 2007 Inc. 5,000, VSoft’s solutions are used by more than 1,700 financial institutions worldwide. VSoft recently received high remarks from Celent, and was selected by Bank Technology News as one of The Innovators 2007. For more information call (770) 225-7692 or visit www.vsoftcorp.com.

Editor's Note: The correct usage of the company name, VSoft Corporation, is either referring to it as VSoft Corporation or VSoft, with both the "V" and the "S" capitalized.

Contacts
For VSoft Corporation
Mary York, 678-781-7221
or
Carol Kennemore, 678-781-7205