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Melanie Cousins
[email protected]
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Fiserv Sees Surge in Credit Union Sales for Check Imaging

Solution helps credit unions reduce costs and increase member satisfaction.

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that it has signed more than 30 new credit union clients for its Source Capture Solutions(R) within the last ten months to provide them anywhere, anytime check image capture.

"We attribute this trend to the widespread adoption of imaging, coupled with the ongoing changes in the corporate credit union environment," said Gary Brand, director, Source Capture Solutions, Fiserv. "Fiserv is seen as a safer and more stable alternative because of its leadership in item processing and payments. We have 180,000 seats of Source Capture deployed across Fiserv. Plus, our common technology platform for all capture solutions - branch, merchant, teller, consumer, ATM and mobile - sets us apart from other remote deposit capture vendors."

A recent new client, Austin, Texas-based Velocity Credit Union, has implemented Branch Source Capture from Fiserv to help reduce costs and increase member satisfaction.

Velocity Credit Union with assets of $568 million, is using Branch Source Capture(TM) from Fiserv to truncate deposits at the branch, electronically correct and balance deposits, reconcile to the teller system and present data and images to item processing systems to clear, settle and post to core seamlessly.

"Branch Source Capture from Fiserv allows us to offer a later cut-off time for same-day posting of deposits, which our members will appreciate," said Debbie Mitchell, Chief Executive Officer, Velocity Credit Union. "It also promises to reduce our check transportation costs and lower our per-item processing costs."

Source Capture Solutions is a unique set of products from Fiserv designed to enhance the reliability, versatility and scalability of image capture and check processing with a common web based platform. This solution set includes branch, merchant, teller, ATM and the increasingly popular consumer and mobile capture all on a common web platform that enable remote deposit capture.