Image is Everything for Worlds Largest Credit Union

Monday 21 March 2005 17:45 CET | News

NCR Corporation has been selected by Navy Federal Credit Union to provide end-to-end, image-based technology across Navy Federals entire global enterprise for check-image capture, processing, storage and access for image delivery and exchange applications.

Navy Federal, the worlds largest credit union with more than $23 billion in assets and over 2.5 million members, seeks to leverage the efficiency created by the recently implemented Check Clearing for the 21st Century Act, or Check 21. Navy Federal will use NCRs ImageMark Passport to capture, balance and consolidate check images captured throughout its 106 member service centers worldwide. These transactions will be electronically transmitted to Navy Federals processing center in Vienna, Virginia, where NCRs ImageMark Transaction Manager system will validate, balance and consolidate check images. Balanced transaction files will be sent to Navy Federals host system for cash letter generation and to the image exchange application provided by VECTORsgi. Incoming paper and electronic transactions from other financial institutions will be processed using NCRs ImageMark Transaction Managers Enterprise Balancing application. NCRs ImageMark Archive will store the payment transaction data and images for seven years. Credit Union members worldwide, including home banking customers, will be able to retrieve this information. NCRs business continuity architecture, which ensures system availability, is included in the overall implementation.

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Categories: Payments & Commerce | Payments General
Countries: World
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