EECU Implements TWS ATM Deposits System

Tuesday 16 November 2004 19:00 CET | News

Educational Employees Credit Union (EECU), has selected several of the IMAGECENTER modules including ALERTMANAGER BY TWS (ALERTMANAGER) a real-time fraud prevention solution and OMEGA BY TWS (OMEGA), a Microsoft.NET-based ATM deposit management solution that automates the processing and management of an ATM deposit.

The use of TWS software enables EECU to automate the process, thereby increasing productivity and allowing for additional ATMs without the financial burden of hiring additional staff. Using the latest in recognition technologies, ALERTMANAGER and OMEGA will significantly reduce incidences of fraud coming into the credit union while at the same time improving the overall efficiency of the institution. OMEGA users have reported a reduction of manual inputting of data by more than 70 percent. Meanwhile ALERTMANAGER has helped cut ATM deposit fraud by more 60 percent for some of the nations largest credit unions. Both solutions will allow EECU to streamline operations to accommodate its growing volume and handle increasing capacity. Using ALERTMANAGER, EECU is able to customize fraud prevention criteria to meet its specific needs. The system reviews each transaction at the institution and automatically sends an alert or warning when any of the pre-set fraud prevention criteria is met. With ALERTMANAGER, EECU receives constant updates about possible fraudulent transactions. In addition, the credit union has access to an online network where they can get information on fraud activity and updates on future training conferences. Imagecenter will enable EECU to streamline and automate its ATM deposit processing from start to finish. The suite includes the ability to send and receive substitute documents in addition to automatically balancing imaged and non-image items using handwriting recognition tools. This image processing and handwriting recognition (CAR/LAR/ICR) technology allows users to read deposit content, while dramatically reducing data entry for ATM reconciliation.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce