30 CUs Choose TotaleAtlasWeb
LINDEN, N.J.-Integrated Media Management, a document automation technology firm, announced that 30 credit unions have now selected its TotaleAtlasWeb solution, which allows credit unions to service their members anywhere in the world by sending documents and capturing digital signatures over the Internet.
TotaleAtlasWeb offers end-users the convenience of completing and signing their private documents when and where they prefer in a timely fashion, while slashing the time it takes for members to receive and send documents and reducing credit union costs for courier services.
For info: www.immonline.com.
CO-OP FS To Manage Payments
RANCHO CUCAMONGA, Calif.-Open Technology Solutions, a Centennial, Colo.-based CUSO owned by four large credit unions, is contracting with CO-OP Financial Services to manage its electronic payments and EFT portfolio. Under the agreement, CO-OP will process more than 5-million debit and ATM transactions, manage OTS' signature debit card services and offer real-time online systems monitoring. The four credit union owners of the CUSO, which boast more than $8 billion in combined assets, are Bellco Credit Union in Denver; Bethpage FCU in Bethpage, N.Y.; First Tech Credit Union in Beaverton, Ore., and SECU of Maryland in Baltimore.
For info: www.co-opfs.com.
Staff Reduced, Service Isn't
NORCROSS, Ga.-GMT Corp.'s performance management solution has helped Colorado-based Elevations Credit Union boost its call center productivity while still reducing its workforce by 15%. The center, which receives about 266,000 calls per day, improved its productivity by going from 80% of all calls answered within 30 seconds to 90% of calls answered within 20 seconds after six months.
For info: www.gmt.com.
Red Flag Tool Kit Catching On
MINNEAPOLIS-Nearly 1,000 financial institutions are using Wolters Kluwer Financial Services' Red Flag Rules Tool Kit, which was launched in May, to help comply with new requirements. Tiffin St. Joseph Federal Credit Union of Tiffin, Ohio, recently became one of 45 credit unions to use the kit.
"The tool kit is perfect because it gives us everything we need to comply with the new Red Flag Rules," the credit union's chief tech officer said. "You can't help but understand the requirements after you've gone through the training videos and presentations.
For info: www.wolterskluwerfs.com.
Vendor Management Solution
OLYMPIA, Wash.-Three companies have come together in a cooperative venture to create software aimed at streamlining the vendor management process. Created by James L. This of The Paragon Consulting Group, Brian Witt of Farleigh, Wada, Witt, and Andy Vanderhoff of Quantivate Inc., the solution, called "CU Vendor," is based on Quantivate's Internet-based PRIZM software has been fine tuned to satisfy NCUA and FFIEC recommendations, according to the three creators.
"CU Vendor provides a methodology for consistent contract review, a system for storing the results of these reviews (including copies of contracts), easy-to-access reports for managers and regulators and notification for contract review and renewal," the companies said.
CU Vendor includes due diligence, risk review, and a compliance review of the contract, including careful scrutiny of the SAS 70 or security audit of the vendor, and it further tracks contract renewal dates, service level commitments, insurance certificates, financial condition, contract terms and conditions. Among the CUs deploying the solution are Nordstrom FCU and TwinStar CU.
For info: Scott Butterfield, at 253- 507-2443 or SButterfield@TheParagonGroup.com.
Visa Fires Up Four New Programs
SAN FRANCISCO-Visa is launching four new programs to deliver payments and services via mobile devices, with two slated for release in Brazil in Korea and the other two to be released in the United States. In Brazil, the company is introducing remote mobile payments through Banco do Brasil, which will allow users to make payments via mobile devices and confirm them with text messages. Here in the states, the company is firing up two pilot programs-the first geared towards sending special offers to select banking customers.
The second is a transaction notification program gives users near real-time information on their transactions.
For info: www.corporate.visa.com.
Fiserv Partners With Economy.com
BROOKFIELD, Wis.-Fiserv's Case-Shiller Home Price Indexes a measurement of home price trends, will now utilize data from Moody's Economy.com to enhance its CASA automated property valuation model (AVM), the technology services provider announced. The enhanced forecasting capability combines historical data provided by the home price index with Moody's Economy.com's macroeconomic and regional economic models.
Fiserv will also now be distributing quarterly bulletins on home pricing trends.
For info: www.fiserv.com.
uMonitor Ready For FACT Act
MEMPHIS, Tenn.-With the recent changes to the Fair and Accurate Credit Transaction's regulations, uMonitor is standing by to help financial institutions ensure that they are in compliance. The new regulations require every financial institution to develop and implement a written program detect, prevent and mitigate identity theft. uMonitor is offering its services to help financial institutions develop these programs, complete with the necessary red flags, and maintain optimal compliance while integrating decision logic in new account opening and funding services.
For info: www.umonitor.com.
DepoZip Picks Up Three Clients
BURLINGTON, Mass.-Three more credit unions have selected DeposZip for their remote-capture services, including one, Indianapolis-based Forum Credit Union, with more than $1 billion in assets. DeposZip, a CUSO started by Easter Corporate FCU, allows members to sign, scan and electronically send checks to their credit union accounts from their homes or small businesses.
For info: www.deposzip.com.
CUTEK Has Wire Transfer Product
MURRIETA, Calif.-CUTEK, a financial technology consulting firm, has put its Automated Wire Transfer System into action at three credit unions, empowering them to electronically and securely transfer funds. The system works simply by filling out the wire transfer details electronically and then forwarding the transfer data from the teller to the credit union's manager and to the accounting department; once that is complete, the funds are transferred.
"This process speeds things up and is more efficient, as the funds are electronically transferred. The wire transfer fees are automatically processed in the background, no more manual GL-to-GL transactions," said one credit union programming manager.
For info: www.cutek.net.
Akcelerant, Xpress Data Partner
MALVERN,Penn.-Akcelerant Software and Xpress Data, Inc., a printing and mailing services provider, have signed a business partner agreement to offer CONNECT.XDI, a tool in streamlining member correspondence, through the Akcelerant Framework. The companies said CONNECT.XDI allows member letters and notices to be generated in the Framework and sent directly to Xpress Data to be produced and delivered. Outsourcing this business function creates less work, lowers costs, and increases the quality of member communications.
For info www.akcelerant.com and www.xdi.com.
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