Catalyst Corporate Federal Credit Union has expanded its ATM Capture service to include image-enabled ATMs on the NCR platform. The move enables hundreds of credit unions across the country to benefit from an enhanced ATM remote deposit solution, according to a press release announcing the recent expansion.
The $1.84 billion Georgia's Own Credit Union in Atlanta and the $133 million Xplore Credit Union in Metairie, La., were the first credit unions to roll out the new service in late August, adding greater convenience and automation to their ATM programs, Catalyst Corporate said.
“Catalyst Corporate introduced ATM Capture in 2009 as part of its full suite of remote deposit services,” said Brad Graney, senior VP and chief operating officer of the $2.6 billion corporate based in Plano, Texas. “Initially serving credit unions with Diebold image-enabled ATMs, we are pleased to make this service available to another large segment of our membership that owns NCR ATMs.”
With ATM Capture, images of deposited items are captured at the ATM, verified and transmitted in real-time directly to Catalyst Corporate for processing, clearing and collection, which eliminates many of the manual tasks generally performed by credit union staff, the press release said.
“With a traditional ATM, credit unions have to retrieve deposit envelopes daily and manually open and verify every transaction,” Ganey said. “There are no envelopes used with ATM Capture. Checks and currency are scanned, and processing begins as soon as they are deposited.”
Decreased processing timeframes enable credit unions to increase operational efficiencies, reduce costs and shorten funds availability, according to Catalyst Corporate.
In addition, the corporate said a faster collection process also reduces a credit union's risk of loss as a result of non-sufficient funds or fraud.
Powered by Bluepoint Solutions, ATM Capture interfaces with all other Catalyst Corporate remote deposit services to capture and consolidate all of a credit union's imaged deposit activity through a single administration channel, the organization said.
“The centralized database enables credit unions to manage applications in one location and to detect duplicate items or deposits anywhere within the credit union's system,” Ganey said. Other features of Catalyst Corporate's service include MICR correction for credit unions, same-day availability and seven-year online archival of images, robust reporting that reflects deposit detail by location, flexible parameters for item review and a dedicated implementation and support team.
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