Four community banks have recently begun using remote capture software from Open Solutions Inc.
The Glastonbury, Conn., banking technology vendor said last week that First National Bank of Litchfield, Conn., and three Massachusetts banks — PeoplesBank of Holyoke, United Bank of West Springfield, and The Community Bank of Brockton — are offering its ISeDeposit software to corporate customers, which can make deposits electronically by converting checks into digital images and transmitting them to the bank.
Open Solutions said the software was developed specifically for community banks, and that users can attract customers that are not located near their branches.
Marcell King, co-general manager of the vendor's imaged payment technologies group, said in a press release that "the convenience, reduced transportation costs and processing efficiencies alone provide substantial competitive advantages to banks. Coupled with the ability to retain and acquire new customer accounts, remote deposit capture presents an opportunity that every institution should be taking advantage of."
