Southwest Corporate to launch new service at economic forum
New product is fully-integrated, allowing CUs to use a single source with a centralized database for all remote deposit solutions
Plano, Texas - Southwest Corporate Federal Credit Union has announced it is targeting Tuesday, Oct. 28, the opening day of its 31st annual Economic Forum, to unveil its consumer-oriented remote deposit product, Member Capture. The two-day Economic Forum, which typically draws around 400 participants, is being held at the Westin Galleria Hotel in Dallas._thumb.jpg)
“Credit unions have been anxiously awaiting the release of this product. Not only will it provide additional convenience to their members, but also it will give them a competitive edge over other financial institutions,” said Brad Ganey, Southwest Corporate’s Vice President, Item Processing Services. “There’s not a credit union in the country that has the ability to match the number of brick-and-mortar branches of a Chase Bank or a Bank of America. Member capture allows credit unions to do one better by taking the branch into their members’ homes.”
Southwest Corporate will roll out Member Capture at the Economic Forum with live demonstrations and the opportunity to dialog with Southwest Corporate’s remote deposit services management and support team. Product pricing will be available and credit unions can sign up to begin the implementation process.
Member Capture is the electronic imaging and transmittal of check deposits for processing from a member’s home. Southwest Corporate’s product is fast, easy to use and requires only a PC, Internet connection and flatbed scanner to operate. And software downloads are unnecessary, because the web-based program is accessed through the credit union’s home banking program.
“Member Capture is a membership growth and retention tool. It will immediately appeal to tech-savvy individuals, but it is intuitive enough for all members to use. The guiding principle in product design has been simplicity,” Ganey said. “We mapped it to the lowest-tech user with the slowest Internet connection and incorporated an online tutorial to guide users through the three-step deposit process.”
Southwest Corporate has been providing remote deposit services since 2002. Its Branch Capture, Teller Capture, Business Capture, Member Capture and soon-to-be-introduced ATM Image Capture are fully integrated, allowing credit unions to use a single source with a single, centralized database for all remote deposit solutions. This feature ensures that duplicate deposits – regardless of where they are made – can be detected and prevented.
A unique benefit of all Southwest Corporate remote deposit services is that Southwest Corporate staff performs all MICR correction for the credit union and, in the case of Member Capture, for the member. In addition, Southwest Corporate has a dedicated support team of 11 individuals, committed to assisting credit unions with implementation, training and free ongoing support, including balancing, software and hardware.
“Over comparable timeframes, the adoption rate of remote deposit has been three to four times higher than that of Internet home banking. Member Capture is likely to become a financial institution commodity, and credit unions have the opportunity to beat banks to the punch on this product,” Ganey said. “And for those members who enjoy coming into the credit union, you can actually improve their experience. Member Capture reduces branch traffic, shortening lines and allowing your tellers to spend time with members who need extra care.”
For more information on Member Capture, call 800.442.5763 or email .