VyStar Credit Union Increases Security of ATM Deposits

Friday 19 November 2004 09:53 CET | News

VyStar Credit Union 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.

Based in Jacksonville, Fla., VyStar has been a TWS customer since 1999. Implementing both ALERTMANAGER and OMEGA significantly increases the level of service VyStar is able to offer its members, giving the credit union an increased competitive advantage in an increasingly aggressive market. IMAGECENTER is designed to meet Check Clearing for the 21st Century Act (Check 21 requirements). It has built-in check truncation requirements including the ability to send and receive substitute documents. Imaged and non-imaged items are automatically balanced using handwriting recognition tools. Using ALERTMANAGER, VyStar 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, VyStar can interface to online networks where they can get valuable information from other financial institutions. IMAGECENTER enables VyStar to streamline and automate its ATM deposit processing from start to finish. Additional key components include the solutions ability to cut fraudulent transactions by 80 percent; a disaster recovery system, which stores and re-routes check images and data; and a lifecycle envelope management feature which tracks ATM deposits, giving managers the flexibility to schedule personnel based on the predicted volume of deposits.

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