Mid Atlantic Corporate Federal Credit Union announced it would make available Digital Insight's Internet-based commercial cash management software, Prizm, to its 1,150 member credit unions.
Prizm was selected for its "business approach" to cash management, said Jay Murray, the credit union's senior vice president and chief operating officer. Other systems it considered "were designed more for personal finance and would have required extensive modification for our uses," he said.
Prizm can handle automated clearing house payments, wire transfers, stop-payments, loan amortization tools, and audit functions, said Souheil Badran, director of cash management for Digital Insight.
The software, introduced last April, is being used by six banks, with 13 or 14 more on the way, Mr. Badran said.