MINNEAPOLIS and NASHVILLE, Tenn. (1/28/13)--Volunteer Corporate FCU has partnered with Cachet Financial Solutions to provide mobile remote deposit capture (RDC) services to VolCorp's 325 member credit unions.
The application allows credit unions' account holders to initiate mobile-deposit sessions on their smartphone or tablet by snapping a photo of an endorsed check and submitting it for processing.
Before transmitting the images, the Minneapolis-based Cachet formats the images, corrects any distortions or skewing and confirms that the image meets industry Check 21 and mobile image-quality standards. All transactions have multiple layers of security, said Cachet Financial Solutions.
"As consumers in general demand more convenience, VolCorp continually searches for solutions that will provide members with the latest technology to compete in the mobile world," said Sandy Swofford, senior vice president of marketing and business development at VolCorp. "Cachet not only offers a high quality RDC solution, but one that is affordable for credit unions of all sizes," Swofford added.
GREENSBORO, N.C. (1/28/13)--First Carolina Corporate CU in Greensboro, N.C., has partnered with LendingTools.com, or LT, a technology provider to correspondent financial institutions, to deploy LT's Correspondent Gateway to member credit unions.
First Carolina chose LT to provide a user friendly solution to meet its member credit unions' automated clearing house (ACH) origination, management and processing needs. Gateway incorporates all ACH functions including transaction origination, reporting and settlement in a single sign-on environment. The solution will be secured by LT's biometric multi-factor authentication system.
"We were looking for a vendor who had an all-inclusive ACH solution that would make our members' operational experience more efficient and better all around," said Sharon Gerald, manager of ACH services at the corporate.
First Carolina's member credit unions also can provide their own branded cash-management services to business members. This allows member credit unions to deploy ACH services that will integrate into First Carolina's iCAPS system for end-to-end processing, said First Carolina.