The software tool will allow North Shore’s corporate customers to capture check images at their remote offices and transmit the items to the bank for processing. The bank presently out sources check clearing, but will implement the VSoft Merchant Capture solution in-house and transmit files to their processor for clearing. The web-based tool eliminates the need for North Shore Bank’s corporate customers to travel to the bank for deposits; therefore businesses can consolidate their deposits into a single preferred financial institution, averting any geographical dependency.
Susan Shea, senior vice president of operations and information technology at North Shore Bank, said: North Shore Bank was not only looking for ways to increase commercial deposit growth, but also to expand our deposit footprint without the time and investment of physical branch growth. Our customers will now reap benefits including time savings, internal control improvements, extended deposit windows, faster funds availability, and more effective and cost efficient record keeping.
