IMM Helping Credit Unions Augment Teller Capture Environment

IMM, a pioneer of integrated eSignature, workflow and document solutions for the modern business enterprise, continues enhancing its teller technologies to maximize their performance and flexibility while minimizing credit unions’ deposit fraud risk. Longtime customer TruWest Credit Union and E Federal Credit Union, a new customer, have both realized heightened efficiencies from the latest release of IMM’s Teller Item Capture.

IMM’s Teller Item Capture is compatible with shared branching and offers greater flexibility with sort patterns for on-us transactions and transit items. Key transaction data is lifted from the check image and automatically entered into the deposit platform screens, simplifying end-of-day balancing and reducing transaction keystrokes to boost transaction efficiency. Each transaction is then balanced to itself, keeping the teller in a perpetual state of balance throughout the business day. The resulting transactional data is automatically fed into the credit union’s core system while electronic cash letters (ECL) are generated and ready for transmission to selected endpoints, all on demand as the transaction check and receipt images are stored in an institution’s imaging/ECM system.

A fraud prevention and loss module is also available with Teller Item Capture. It performs real-time checks against fraud and loss databases to reduce the risk associated with check deposits, while also allowing for increased funds availability without additional risk.

Dee Dee Martinelli, financial systems manager at $853 million TruWest Credit Union, has implemented the new version of IMM’s Teller Item Capture as part of a larger virtualization strategy. “The transition has helped us eliminate a server and gain new efficiencies across accounting, IT and branch operations. The ECL automation is streamlined and complemented by our ability to now electronically endorse checks and create deposit slips, which removes manual scanning.” TruWest initially deployed IMM’s teller software more than six years ago.

E Federal Credit Union, $298 million, is new to IMM’s Teller Item Capture and rolled it out during a broader systems deployment. Billy McDonald, chief information officer, added, “Moving from another teller platform, IMM’s solution is much cleaner and well thought out. The system is built on a process flow that expedites teller-to-backend-to-endpoint transitions and simplifies resolution.”

Teller Item Capture improves how credit unions capture, process, archive and subsequently research checks. ECLs with images are exchanged directly or through clearing organizations, eliminating the costs associated with traditional check encoding, sorting and transporting for clearing. Follow-up research or transaction audits are performed online easily and quickly with images including both the receipt and checks.

John Levy, IMM executive vice president and ESRA (Electronic Signature & Records Association) board member, said, “We want our credit union customers to be assured of a return on their teller item capture investment by further enhancing and expanding their capabilities for more efficient processing.”

About IMM
Based in Linden, N.J., IMM develops and delivers innovative technology solutions that enable financial institutions to electronically streamline their business operations and processing environments. With a strong and secure legacy of serving more than 650 banks and credit unions with solutions for eSignature capture, business process (workflow) automation, and document presentment, IMM continues to create advanced software applications that promote clients’ sustainability while dramatically increasing productivity and operational efficiencies. The company is a longtime advocate of eSignature adoption and education, active in ESRA to advance the public’s understanding of issues surrounding the use of electronic signatures and records.