ATLANTA, Oct 5, 2005 â VSoft Corporation, a global information and technology provider of process improvement tools for financial institutions, this month convened its 2005 User Conference in St. Louis as a forum to discuss "Check 21. The Myth. The Reality."
Representatives from financial institutions, check imaging and processing services providers, and industry pundits shared their first-hand experience in learning, implementing, and adapting to new imaging and processing protocols. Financial institution attendees included both community banks and credit union services aggregators, which were reminded that Check 21 legislation did not
create a mandate, but an opportunity for check processors to benefit from image enabled item capture and exchange.
Concurrent with the user conference, VSoft Users Edge (VUE) made its debut. VUE is the name given to all VSoft solution users. The goal of VUE is to establish an ongoing organization that represents the interests of VSoft clients, creating a forum for sharing experiences, information, and ideas.
âVSoft users share a common vision about the potential and significance of the new capabilities imaging technology offers financial institutions and their customers,â said Dennis Hessel, president, Bank Data Services. âVUE will enable VSoft and their users to maintain a continuous educational log of current and upcoming technology changes as well as industry trends.â
Among the topics most avidly discussed were the impact of Check 21 capabilities both in reducing some types of check fraud and also in the introduction of new fraud schemes, the potential for new markets related to merchant or remote item capture, the feasibility of 110 percent truncation. Each day of the conference included an open forum session, which allowed
attendees to freely discuss current and future industry issues.
"VSoft Corporationâs annual user conference invites business partners as well as industry experts to provide attendees with first-hand, valuable knowledge," said Murthy Veeraghanta, president of VSoft Corporation. "The second annual conference in St. Louis was a valuable learning experience for attendees, allowing time for them to interact with VSoft management and network with industry peers to explore the latest technology and how it can be applied to meet their business needs. Specific sessions allowed attendees to interact with VSoftâs development teams to discuss ideas and develop strategies to identify best practices. VSoft hosts user conferences to learn more about our customersâ concerns, and we have built an online environment for users to continuously share questions and provide advice to other users."