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Agile Computing Authors: Liz McMillan, Elizabeth White, Pat Romanski, Larry Alton, Astadia CloudGPS

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Black Hills Federal Credit Union Implements Latest Release of IMM’s Teller Item Capture

IMM, a provider of innovative eSignature, workflow and document solutions for financial institutions, today announced that Rapid City, S.D.-based Black Hills Federal Credit Union is using the newest version of its Teller Item Capture technology, TIC 2.0, and has achieved greater teller efficiencies since implementation.

Black Hills FCU is the first financial institution to benefit from the recently announced product integration of TIC 2.0 and Source Capture Solutions® technology developed by Fiserv, a leading global technology provider serving the financial service industry and a leading provider of check processing solutions in the U.S. The company’s Teller Source Capture™ solution captures images of check deposits at the front counter, and sends this information to the financial institution’s account processing infrastructure. Black Hills FCU operates on the XP2® account processing solution, also from Fiserv, which is an open, relational database platform with Internet architecture and browser-based applications.

South Dakota’s largest credit union, Black Hills FCU’s previous branch source capture product provided efficiencies for the back office, but created difficulties for tellers in end-of-day balancing and required them to manually key-in check information per transaction. Having already leveraged other IMM solutions, the credit union opted to move to IMM’s TIC 2.0 to take advantage of the latest Check 21 technology.

IMM’s TIC 2.0 moves the check truncation directly to the front of the transaction at the teller window. Checks are scanned at transaction time, the amounts are automatically entered into the deposit transaction screen and the transaction is fully balanced before it can be closed/posted. Subsequent Electronic Cash Letters (ECL) for check image item clearing are prepared and readied for clearing distribution. Since teller balancing is now performed at the transaction level, the credit union has reduced the normally cumbersome end-of-day task to just five minutes from almost an hour previously. IMM’s TIC 2.0 further prevents unbalanced transactions from being processed, relieving employees from having to make back office adjustments and calls to members.

John Madsen, vice president of information technology for Black Hills Federal Credit Union, said, “IMM is helping our credit union achieve our member service and efficiency objectives; the company did not just sell us a product. TIC 2.0 has eliminated arduous, manual tasks, allowing our tellers to be much more productive. The technology is better for tellers as well as for our members, as their items are now balanced at the time of transaction.”

Through IMM’s TIC 2.0 integration with Source Capture Solutions from Fiserv, Black Hills FCU can now capture check images from multiple sources – the teller line, ATM and mobile deposits – and process them through the same check processing platform. The credit union is saving money otherwise spent sending armored cars to collect paper checks and having tellers manage that paper. Duplicate detection across all channels reduces the risk of having duplicate items deposited while enhancing image quality throughout the process.

“Black Hills FCU will benefit from integrated delivery of check deposit and processing solutions,” said Gary Brand, director, Source Capture Solutions, Fiserv. “We’re pleased to collaborate with a leader such as IMM to deliver enhanced teller efficiencies to Black Hills FCU and other financial institutions.”

“Our integrated teller capture solution automates the manual processes that lead to redundancies and human error,” said John Levy, EVP and co-founder of IMM. “And through the core integration between TIC 2.0 and Source Capture Solutions from Fiserv, Black Hills FCU and other financial institutions can quickly and securely capture check images while dramatically decreasing tellers’ time spent processing deposited checks.”

Additional Resources

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving the financial services industry, driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.

About IMM

Based in Linden, N.J., IMM develops and delivers innovative technology solutions that enable financial institutions to electronically streamline their business operations and processing environments. With a strong and secure legacy of serving more than 600 banks and credit unions with solutions for eSignature capture, business process (workflow) automation, and document presentment, IMM continues to create advanced software applications that promote clients’ sustainability while dramatically increasing productivity and operational efficiencies. For more information, visit www.immonline.com or connect with the company on LinkedIn, Facebook and Twitter @imminfo.

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