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CUTEK creates custom account-closure interface

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MURRIETA, Calif. (11/28/11)--Financial technology services provider and consultant CUTEK Inc. has developed a customizable interface that walks  credit union members service representatives through the account closing process.

Each credit union can create its own list of reasons for account closures and scripts for employees to follow in attempting to retain members. Scripts can vary for each reason for closure.

For example, if the member tells the employees that a move is the reason for closure, the script can inform or remind the member about the electronic services offered via remote banking, according to Ray Pennisi, CUTEK  senior consultant. If the employee successfully "saves" the account from closure, the save can be noted on the account for the employee.

If the closure proceeds, the interface will automatically pay any required closing dividends, transfer the funds out of the account, close the account, and perform any other needed steps, such as capturing outstanding plastic and collecting a signature for the closure.

Verafin ranked 128 in Deloittes Tech Fast 500

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ST. JOHN'S, Newfoundland (11/28/11)--Verafin Inc., a provider of compliance, anti-money laundering and fraud detection software, is ranked No. 128 on the Technology Fast 500, Deloitte's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.

Rankings are based on percentage of fiscal year revenue growth from 2006 to 2010. Verafin grew 840% during the period.

Verafin is a CUNA Strategic Services provider.

Verafin also was listed on the Deloitte Technology Fast 50, a ranking of the 50 fastest growing technology companies in Canada. Verafin's five-year revenue growth rate resulted in a ranking of 27.

"It is a confirmation of the hard work we have put into creating a progressive and leading-edge anti-fraud and anti-money laundering software product," said Brian Whiteway, Verafin chief financial officer.