The adoption of imaging is likely to continue to accelerate, according to the new chief operating officer of VSoft Corp., a maker of imaging software for regional and community banks.
Vijay Balakrishnan, who was hired by the Atlanta vendor last week, said in an interview when that small institutions are likely to respond more quickly than large ones to the changing economics of clearing checks.
"As organizations grow, they tend to become less nimble," Mr. Balakrishnan said. As an example, he cited imaging at automated teller machines. "Credit unions have been quite proactive in the ATM capture space. That's a point of presentment growing quite significantly in the credit union space, more than the bank space."
Mr. Balakrishnan joined VSoft from Metavante Corp., the technology subsidiary of Marshall & Ilsley Corp. He worked 14 months as the vice president of strategic marketing in Metavante's imaging-technology unit. Before that he had been the executive vice president of marketing at Alogent Corp., an Atlanta imaging vendor.
