WASHINGTON – State Department FCU said yesterday it has signed with VSoft to implement the company’s Agile Merchant–Web capture solution to provide image capture connectivity throughout its worldwide network.
The system will enable the $900 million credit union to offer immediate deposit to all its members based overseas and to eliminate expensive courier expenses.
VSoft’s Agile Merchant – Web allows members to capture check images at their offices and electronically transmit items to the credit union.
The system reduces float. Funds become available sooner as personnel can simply scan the checks as they receive them. Business members can consolidate their deposits into a single preferred financial institution, averting any geographic dependency.
The credit union plans to roll out the service first to its organizational accounts located throughout the U.S., then implement it at State Department facilities throughout the world.
