RAPID CITY, S.D. Black Hills FCU is the first credit union to use the newly announced integration of Integrated Media Management’s Teller Item Capture TIC 2.0 with Fiserv’s Source Capture Solutions technology.
The two companies said the combination has reduced the $885-million credit union’s previously cumbersome end-of-day task to just five minutes and allows it to process all images through the same processing platform, whether they are captured at teller lines, ATMs or via a mobile deposit.
According to IMM and Fiserv, the credit union is saving money otherwise spent sending armored cars to collect paper checks and having tellers manage that paper. Duplicate detection across all channels reduces the risk of having duplicate items deposited while enhancing image quality throughout the process. IMM said its TIC 2.0 further prevents unbalanced transactions from being processed, relieving employees from having to make back office adjustments and calls to members.
IMM said Teller Source Capture solution captures images of check deposits at the front counter, and sends this information to the credit union’s account processing infrastructure. Black Hills FCU operates on the XP2 account processing solution, also from Fiserv, which is an open, relational database.
Black Hills FCU’s previous branch source capture product provided efficiencies for the back office, but created difficulties for tellers in end-of-day balancing and required it to manually key-in check information per transaction. IMM said TIC 2.0 moves the check truncation directly to the front of the transaction at the teller window. Checks are scanned at transaction time, the amounts are automatically entered into the deposit transaction screen and the transaction is fully balanced before it can be closed/posted.
Subsequent Electronic Cash Letters for check image item clearing are prepared and readied for clearing distribution. Since teller balancing is now performed at the transaction level, IMM and Fiserv said the credit union has reduced the normally cumbersome end-of-day task to just five minutes from almost an hour previously.
