imagic Systems Now Compatible with FedImage Platform

GLASTONBURY, Conn. – imagic says its item capture and imaging systems are now compatible with the FedImage platform used by the Federal Reserve. Credit unions who use imagic for check imaging now can receive early morning posting files of their in-clearings, which likewise can be transmitted to the Fed early in the day, eliminating the use of couriers that can hold up processing. Clients of imagic, a subsidiary of Open Solutions Inc., also can make the images available to their members. “We pursued this relationship with the Federal Reserve to leverage their technology and to offer our clients superior products and services. In anticipation of the Check Truncation Act (Check 21) passing, banks and credit unions using our software will be in full compliance with Check 21,” said Kevin Fahey, senior vice president and group manager for imagic.