WAUSAU Financial Systems Relaunches Comprehensive Remote Deposit Capture Suite: Deposit 24/7™

MOSINEE, Wis., Oct. 20 /PRNewswire/ -- Consumers visit financial institutions to receive personalized service and attention. But more and more consumers prefer to do their banking on the go and are looking to financial institutions for solutions that will accommodate their hectic lifestyles and empower them to manage various responsibilities remotely. WAUSAU Financial Systems has a proven reputation for its mature, best-in-class remote capture products, and today announced the relaunch of its full suite of Remote Deposit Capture (RDC) offerings under the brand name, Deposit 24/7™. The new remote deposit capture suite, complete with risk monitoring functionality, is a comprehensive solution that includes mobile, consumer and merchant capture points, and allows convenient and secure check deposit from the office, at home or on the go.

The Deposit 24/7 suite includes:

• Mobile capture – Allows customers the ability to deposit either personal or business checks via camera-equipped smartphones, including iPhone, Android, BlackBerry and devices on the Windows Mobile platform.
• Consumer capture – Through the support of common office hardware, such as a flatbed scanner or all-in-one print/copy/fax machine, consumer capture opens the benefits of RDC to small business owners and consumers unable to afford the more costly check scanners associated with traditional merchant capture. Now micro-businesses and consumers receiving small numbers of checks have an affordable and secure option for making their deposits.
• Merchant capture – A thin-client deposit and payment web-based version allows robust functionality and enhanced benefits, with lower deployment costs and the speed of touchless implementation. Integrating directly with a company's remittance systems, the functionality can work with a back-end remittance system or stand alone to process payments within the web client.

Deposit 24/7, which includes WAUSAU's risk monitoring capabilities such as duplicate detection, velocity and dollar limits and image analytics, enables financial institutions and their risk management teams to better monitor and control risks associated with RDC. It also allows financial institutions to reach out beyond the branch to give their customers more flexibility and convenience, creating a better overall experience.

"Risk has been a major barrier and source of apprehension for financial institutions in deploying new technologies such as mobile RDC and creating a paperless branch. Yet, the desire to innovate and thereby grow their customer base is there," said Kathy Strasser, executive vice president of solution management for WAUSAU Financial Systems. "The next generation of customers has specific demands on how they want to bank, and mobile technology is at the forefront. Taking advantage of new forms of RDC like consumer and mobile will enable financial institutions to stay competitive and broaden their customer base."

In addition to providing numerous customer benefits, Deposit 24/7 also helps cut costs within the branch. According to Celent, reducing small business branch deposits through RDC can pay large dividends to financial institutions. Mobile and self-service options will be more important to banks as they continue to transition from transaction processing centers to sales and service centers.

Going Paperless with Deposit 24/7

Deposit 24/7 aligns with WAUSAU's paperless branch concept that works across the branch to eliminate paper, and provides yet another way financial institutions can remove paper from their networks.

"The key benefits financial institutions can gain from adopting a paperless strategy are limitless, from driving efficiencies and reducing costs to mitigating risk and assuring compliance," continued Strasser.

According to a recent survey by Aite Group, financial institution executives indicated that their top three IT priorities were compliance, data/information security, and online banking. Two of these priorities involve going paperless. By understanding the new risks associated with new technologies, financial institutions can manage risks to embrace mobile RDC and paperless branch capabilities. "Together, both WAUSAU's paperless branch solutions and Deposit 24/7 remote deposit capture suite offer simple, convenient and secure ways to improve the customer experience, mitigate risk, enhance revenue, drive efficiencies, and cut costs within the branch," Strasser added.

WAUSAU Financial Systems will be exhibiting at the upcoming BAI Retail Delivery Conference October 19-21 in Las Vegas, where the company will be presenting its BAI Solution Theatre Presentation: "Banking Without Walls: Capturing the Next Generation Customer" on October 21 from 11:00 to 11:30 a.m.

Please stop by WAUSAU's booth #1402 to learn more about the technological needs of a new generation of customers and how to manage the risks that these innovations present.

About WAUSAU Financial Systems

WAUSAU Financial Systems is a premier provider of payment and receivables processing solutions, helping businesses of all types move money faster. With its products, services and consulting, WAUSAU works with customers to speed check processing, electronic presentment, ACH payments, transaction processing, distributed capture and enterprise content management. WAUSAU holds the No. 1 market share position in retail and wholesale remittance processing solutions. WAUSAU processes more than $1 trillion in payments each year through its work with more than 650 organizations, and maintains more than 30 percent of all U.S. lockbox volume. The company works with 13 of the 25 largest financial institutions, 42 percent of insurance companies with more than 5 million customers and 24 percent of utilities with more than 100,000 customers. More than 200 financial institutions use WAUSAU's remote deposit capture service, and industry consultants Celent and Aite have ranked WAUSAU's remote capture functionality above all competitors. For more information, visit www.wausaufs.com.

SOURCE WAUSAU Financial Systems

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED