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November 5, 2009

Jefferson FCU Deploys Consumer Source Capture From Fiserv

To allow customers to scan images and make deposits from their home or small business-based devices

By CBR Staff Writer

Fiserv, a provider of financial services technology solutions, has announced that Louisiana-based Jefferson Financial Credit Union (JFCU) has implemented its Consumer Source Capture (CSC) solution, thus enabling the customers to scan images and make deposits from their home or small business-based devices.

CSC allows consumers or small business owners to electronically scan and deposit checks from any location with a PC, a scanner and an internet connection. The solution guides consumers through the steps of creating a deposit ticket, scanning the check, entering deposit details and confirming the deposit.

Fiserv said that by using JFCU’s online banking portal, CSC leverages existing security methods for login IDs, passwords and data encryption during image and data transfer. Moreover, members can use their existing scanner hardware since virtually all office scanners, including flat bed and all-in-one printer/scanner/FAX machines are supported.

JFCU deployed its Consumer Source Capture through its online banking portal, @net for Advantage and also utilizes Premier from Fiserv to generate Check 21-compliant output for transit, achieving a fully integrated image capture and processing solution.

Additionally, to help mitigate concerns about risk, JFCU is using Deposit Review from Fiserv to manage risk and regulatory policy. Deposit Review automatically reviews each Consumer Capture deposit to minimize image quality issues, duplicates, amount verification problems and other errors. Deposits with potential errors are automatically flagged for review by a Jefferson Financial staff member, providing a controlled, secure process for handling deposits.

Fiserv added that the CSC is part of its Source Capture Solution, a set of solutions that offer check image capture on a common web platform, regardless of point of deposit. Whether deposits are taken at a branch, merchant, cash vault, ATM, lockbox, office or a consumer’s home.

Mark Rosa, president and CEO of Jefferson Financial Credit Union, said: “We are receiving very positive feedback from our members who are using Consumer Source Capture from Fiserv. We anticipate a rise in deposits, more cross-sell opportunities and increased customer satisfaction as we move more member activity to an electronic channel.”

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