LOS ANGELES – First City CU has signed with VSoft Corp. to implement the company’s image exchange and settlement solutions, including its inclearings, returns and archive services.
First City will leverage VSoft’s applications via an outsourced model, which the company said will meet the credit union’s functionality needs without having the burden of hardware, maintenance and compliance responsibilities.
VSoft said its inclearing solution accepts and processes incoming electronic cash letters from image exchange networks, other financial institutions and the Federal Reserve. The system streamlines the receipt of cash letters, reducing transportation time and costs, the company said. Additionally, VSoft’s returns applications manage both outgoing and incoming returns, enhancing workflow efficiency.
