MagTek, Inc., a global leader in
electronic payments technology, and Integrated Media Management (IMM),
experts in document output and automation technology, combined their
technologies and services to successfully roll out a Check 21 Teller
Item Capture Solution at Affinity
Federal Credit Union.
When Affinity Credit Union began a search for a Check 21 solution, they
were eager to implement early check image capture in order to gain the
most benefits and modernize the traditional labor-intensive and costly
approach of handling, processing, and transporting paper checks.
Affinity opted to select the complete solution offered by MagTek and IMM.
MagTek’s Excella
STX, a dual-sided check reader/scanner, is used to read MICR data
and capture images of checks presented for deposit at Affinity’s
teller window. The information is instantly and seamlessly transmitted
to IMM’s TotaleReceipts
with Teller Item Capture which provides capabilities such as embedded
signature capture, receipt archival with scanned checks, ID Capture plus
all the features and functions of Check 21 which are powered by the VSoft
Corporation.
”The benefits are clear; Teller Item Capture
eliminates the need and cost of transporting paper checks between
branches and the FRB or other endpoints. It also solves the problem of
checks lost in transit. Deposited checks are scanned right at the teller
line and seamlessly uploaded to the core, automating the process of
entering items. The software requires the teller to balance at the time
of transaction, providing immediate accuracy of the routing & transit
number as well as the check amount,” said Mr.
Nish Shah, Chief Technology Officer at IMM. “In
addition to creating a paperless environment, the data entry by the
teller is minimized while achieving a significant cost reduction by
eliminating the processing and handling of paper checks,”
added Mr. Shah.
“This project was a true collaboration effort
between Affinity, IMM and MagTek,” said Andy
Deignan, VP Business Unit Manager for Financial Products at MagTek. “The
hard work and attention to detail of all three companies working
together ensured that the hardware and software were thoroughly tested
to be ready for primetime,” added Mr. Deignan.
From the white board to the teller line, Affinity was able to bring 21st
century imaging technology to the home front, and reap the benefits
promised by Check 21 with the support of MagTek’s
and IMM’s products and services.
About MagTek
Since 1972, MagTek has been a world leader in electronic transaction
technology, from magnetic stripe card readers and writers to
high-accuracy MICR check readers and scanners, secure PIN issuance and
cardholder verification systems. The company's products are in use today
at point-of-sale (POS) and back-office locations in thousands of
retailers and financial institutions around the world; MagTek’s
technologies and components are also incorporated into custom retail POS
terminals, banking customer service terminals, restaurant and
hospitality equipment, Kiosks and ATMs. MagTek is based in Carson,
California and has sales offices throughout the United States, Europe,
and Asia, with independent distributors in over 40 countries. For more
information, please visit www.magtek.com.
About IMM
Integrated Media Management (IMM) specializes in Output Management and
Document Automation Technology. We are continually seeking to improve
the way financial institutions operate as it relates to our area of
expertise. Our products encompass all aspects of the financial
institution, providing a rapid rate of return on investment. We work
with a number of business partners to achieve seamless integration to
host processors. Over 600 financial institutions are currently using
Integrated Media Management's software products to automate their
process. For more information, please visit www.immonline.com.
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