CARSON CITY, Calif. (4/15/08)--MagTek, a provider of electronic payment technology, announced that its IntelliCAT card issuance and personal identification number (PIN) system is interoperable with Harland Financial Solutions’ Ultradata processing software. The IntelliCAT system allows credit unions to offer services for their card products and change members’ PIN on an existing card or for a new account (Wireless News March 26). MagTek also announced that it has partnered with ISTS WorldWide to provide web applications for clients who use its MagneSafe secure card readers. ISTS will work with MagTek to help clients build and integrate applications for gift card personalization and point-of-sale applications, where data are encrypted at the point of swipe.
BOULDER, Colo. (4/15/08)--A partnership with VSoft and Parascript has made life a little easier for the credit union clients of Synergent, a subsidiary of the Maine Credit Union League. Synergent eliminated costs associated with manual item capture, processing and delivery with VSoft’s Branch Capture--which includes Parascript’s check recognition technology. Synergent also eliminated geographic restraints for manual item processing and delivery. “As a result of these efficiencies, we were able to transfer internal resources and employees to business development tasks to increase sales volumes,” said Dawn Paquet, Synergent manager of check processing and support services. “We also are now able to offer image-based technologies to credit unions at remote locations that we couldn’t serve before.” Prior to using VSoft’s Branch Capture, clients depended on couriers, which restricted geographic boundaries for new business and prevented Synergent from accepting checks from distant credit unions. Credit unions also spent $5,000 to $30,000 per year on courier fees. With the image exchange solution, credit unions can exchange images directly. VSoft is a provider of financial technology services for credit unions. Parascript, an image processor, processes more than 100 billion images per year.