Black Hills Federal Credit Union Implements Latest Release of IMM’s Teller Item Capture

  Black Hills Federal Credit Union Implements Latest Release of IMM’s Teller
  Item Capture

 Integrated with Teller Source Capture from Fiserv, the solution improves the
             teller environment and accelerates check processing

Business Wire

LINDEN, N.J. -- February 6, 2013

IMM, a provider of innovative eSignature, workflow and document solutions for
financial institutions, today announced that Rapid City, S.D.-based Black
Hills Federal Credit Union is using the newest version of its Teller Item
Capture technology, TIC 2.0, and has achieved greater teller efficiencies
since implementation.

Black Hills FCU is the first financial institution to benefit from the
recently announced product integration of TIC 2.0 and Source Capture
Solutions^® technology developed by Fiserv, a leading global technology
provider serving the financial service industry and a leading provider of
check processing solutions in the U.S. The company’s Teller Source Capture™
solution captures images of check deposits at the front counter, and sends
this information to the financial institution’s account processing
infrastructure. Black Hills FCU operates on the XP2^® account processing
solution, also from Fiserv, which is an open, relational database platform
with Internet architecture and browser-based applications.

South Dakota’s largest credit union, Black Hills FCU’s previous branch source
capture product provided efficiencies for the back office, but created
difficulties for tellers in end-of-day balancing and required them to manually
key-in check information per transaction. Having already leveraged other IMM
solutions, the credit union opted to move to IMM’s TIC 2.0 to take advantage
of the latest Check 21 technology.

IMM’s TIC 2.0 moves the check truncation directly to the front of the
transaction at the teller window. Checks are scanned at transaction time, the
amounts are automatically entered into the deposit transaction screen and the
transaction is fully balanced before it can be closed/posted. Subsequent
Electronic Cash Letters (ECL) for check image item clearing are prepared and
readied for clearing distribution. Since teller balancing is now performed at
the transaction level, the credit union has reduced the normally cumbersome
end-of-day task to just five minutes from almost an hour previously. IMM’s TIC
2.0 further prevents unbalanced transactions from being processed, relieving
employees from having to make back office adjustments and calls to members.

John Madsen, vice president of information technology for Black Hills Federal
Credit Union, said, “IMM is helping our credit union achieve our member
service and efficiency objectives; the company did not just sell us a product.
TIC 2.0 has eliminated arduous, manual tasks, allowing our tellers to be much
more productive. The technology is better for tellers as well as for our
members, as their items are now balanced at the time of transaction.”

Through IMM’s TIC 2.0 integration with Source Capture Solutions from Fiserv,
Black Hills FCU can now capture check images from multiple sources – the
teller line, ATM and mobile deposits – and process them through the same check
processing platform. The credit union is saving money otherwise spent sending
armored cars to collect paper checks and having tellers manage that paper.
Duplicate detection across all channels reduces the risk of having duplicate
items deposited while enhancing image quality throughout the process.

“Black Hills FCU will benefit from integrated delivery of check deposit and
processing solutions,” said Gary Brand, director, Source Capture Solutions,
Fiserv. “We’re pleased to collaborate with a leader such as IMM to deliver
enhanced teller efficiencies to Black Hills FCU and other financial
institutions.”

“Our integrated teller capture solution automates the manual processes that
lead to redundancies and human error,” said John Levy, EVP and co-founder of
IMM. “And through the core integration between TIC 2.0 and Source Capture
Solutions from Fiserv, Black Hills FCU and other financial institutions can
quickly and securely capture check images while dramatically decreasing
tellers’ time spent processing deposited checks.”

Additional Resources

  *Source Capture Solutions from Fiserv Integrated into IMM’s Teller Item
    Capture for Credit Unions – http://newsroom.fiserv.com/
  *IMM Teller Item Capture –
    http://www.immonline.com/solutions/teller-transaction-automation/teller-item-capture
  *Source Capture Solutions from Fiserv – http://fiserv.com/sco

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving
the financial services industry, driving innovation in payments, processing
services, risk and compliance, customer and channel management, and business
insights and optimization. For more information, visit www.fiserv.com.

About IMM

Based in Linden, N.J., IMM develops and delivers innovative technology
solutions that enable financial institutions to electronically streamline
their business operations and processing environments. With a strong and
secure legacy of serving more than 600 banks and credit unions with solutions
for eSignature capture, business process (workflow) automation, and document
presentment, IMM continues to create advanced software applications that
promote clients’ sustainability while dramatically increasing productivity and
operational efficiencies. For more information, visit www.immonline.com or
connect with the company on LinkedIn, Facebook and Twitter @imminfo.

Contact:

For IMM
Megan Ard, 678-781-7223
 
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