|By Business Wire
|February 6, 2013 08:00 AM EST
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
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
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
“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
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.
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,
and Twitter @imminfo.
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