IntegraSys Clients Boost Use of Virtual Branch E-Banking Suite by 260 Percent

Friday 14 May 2004 17:20 CET | News

IntegraSys, a unit of Fiserv, has reported a dramatic increase in use of its Virtual Branch suite of consumer electronic financial offerings.

In 2003, Virtual Branch processed more than 90 million electronic transactions including account balance requests, fund transfers and bill payments on behalf of U.S. credit union members - a 260 percent increase over the numbers from two years earlier. End users of the electronic banking suite also have increased more than 60 percent in that time period. Among the 400 credit unions using Virtual Branch, 40 are new clients that signed on to use the product in 2003. As a client since 1982, United Services Federal Credit Union, a credit union with nearly $10 million in assets serving military and government employees and their families in the Toledo, Ohio area, began offering Virtual Branch to its members in October 2003. Advanced Features Help Increase Security, Retain Members In addition to online check images, bill pay and other popular features, IntegraSys has completed significant enhancements to Virtual Branch, including personalized logon that gives members the ability to change their own logon id, e-mail alerts that notify members when scheduled bill payments or account transfers fail, and an enhanced Contact Us feature that allows credit unions to provide multiple contact points for online users to get more information. Virtual Branch Increases Growth Momentum During 2003, on behalf of credit unions and their members, Virtual Branch: -- Hosted more than 44 million unique user sessions, almost double the usage from 2001 -- Processed close to 6 million bill payments valued at more than $1.3 billion -- Presented more than 4.5 million check images to credit union members -- Hosted user connect time equal to 608 years -- Provided useful and convenient links to 16 new third party sources, including check images, credit card history, statements, share drafts and FedImage Gateway Retrieval System, The Federal Reserves system that provides access to check images. These additions create a list of more than 30 embedded links to third party sources from Virtual Branch.

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Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
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