Bluepoint Solutions promoted the tMagic Teller Capture solution at the 2010 Open Solutions Client Conference & Solutions Expo in Grapevine, TX April 17 – 21 at the Gaylord Texan Resort and Convention Center. Through Bluepoint’s partnership with Open Solutions and Burroughs Payment Systems, the tMagic Teller Capture solution was highlighted at the conference with a special promotional discount of $240 per seat for contracts executed no later than May 31, 2010.

Bluepoint, a four-star sponsor of the conference, responded to strong interest in tMagic from attendees at its booth, the Open Solutions booth and the “demo theater” located in the expo hall. A case study of Open Solutions beta client, Hampden Bank of Springfield, MA, was also presented during the conference. It covered the installation of Open Solutions tMagic Teller Capture solution at Hampden Bank and discussed the many benefits, cost savings and efficiencies derived from it.

The conference appeared very well attended, and the theme, “Learn, Connect and Innovate,” was echoed by Louis Hernandez, Jr., Chairman and CEO of Open Solutions Inc., in his new book, “Too Small to Fail: How the Financial Crisis Changed the World’s Perceptions” (AuthorHouse). The global release of the book was announced April 19 at the conference.

The keynote address was given by former Dallas Cowboys Quarterback and FOX Broadcaster, Troy Aikman. Attendees also had the opportunity to participate in educational sessions, networking activities and product demonstrations on the exhibit floor, including Bluepoint’s complementary Remote Deposit Capture (RDC) solutions, including Merchant, Home and Branch Capture in addition to its Enterprise Content Management (ECM) suite.

Participating from Bluepoint were Hal Tilbury, President and CEO, Dan Sollis, VP of Business Development, Ron Pease, VP of Strategic Partnerships, Gary Collins, Regional Manager, Tom Stoker, Regional Manager, Bob Petkus, Regional Manager, Andrew Tilbury, Director of Marketing Communications, and Alissa Fry-Harris, Communications Coordinator.

Bluepoint would like to extend a hearty thank you to all of the users and partners that stopped by our booth. It was a pleasure to learn more about user needs and the innovations that we can bring to the financial marketplace. Bluepoint would also like to thank Open Solutions for hosting a highly productive and engaging conference. The integrated tMagic Teller Capture solution is sure to bring innovation to financial institutions of all sizes in the form of increased efficiency, streamlined processes, cost savings and enhanced security.

Representatives from Bluepoint Solutions just capped off several days of successful meetings and demonstrations at the CUNA Governmental Affairs Conference that took place in Washington DC.  We would like to thank the many credit union leaders we met and spoke with during the conference.  Many of them expressed a strong interest in Teller Capture and Remote Deposit Capture (RDC), echoed by our recent RDC Survey results.  As a result, our ImagePoint product line was warmly received.

Attendance at the GAC is up; CUNA reported that 4,000 credit union leaders from across the nation participated.  Several major headliners spoke at the conference, including David Gergen, Senior Political Analyst for CNN and Alan Greenspan, former Chairman of the Federal Reserve.  An underlying theme throughout many of the speeches addressed the challenging economic climate facing credit unions and methods to continue serving the financial needs of their communities.

Approximately 100 credit union industry leaders attended the National Credit Union Administration (NCUA) Town Hall Meeting in Orlando, FL. NCUA Chairman Debbie Matz presided, with additional executives from the agency participating in the discussion.  Each of the four primary areas in NCUA’s Proposed Changes to Part 704, otherwise known as the Corporate Credit Union (CCU) Stabilization Program, were reviewed and audience members were given a chance to ask questions, voice concerns and contribute ideas to the final regulation. The Town Hall meeting was held about five weeks before the end of the Comment Period for the Proposed Changes to Part 704.

NCUA began the meeting by explaining why it didn’t sell the “legacy assets” (e.g., securities, many of them backed by nonperforming mortgages) at the corporate and then assess fees to Natural Person Credit Unions (NPCU) at one time. In summary, the initial losses would have wiped out about half of the total net worth among all NPCUs. Not only would this have caused credit union failures, but it also would have prevented NPCUs from offering other services (e.g., making loans) to their members.

Part 704 addresses four key areas: Capital Standards, Asset Liability Management, Risk Concentration Limits and Governance. The NCUA explained that the proposed regulations are intended to identify problems such as lack of capital standards, rules about dealing with liquidity and the inability to move securities that contributed to the situation the industry faces today. At the same time, the proposed rules aim to create “never again” standards within a framework that protects consumers and NPCUs while offering CCUs sufficient opportunity to have a successful business model.

The three phases of the Stabilization Plan were reviewed. The first phase was Stabilization, which is complete and by all accounts was successful. The second phase is resolution of investment losses. The NCUA is currently working on that issue and plans to publish results shortly. The agency asked that NPCUs assume that this phase is complete when they send comments to the proposed Part 704 changes. The third phase is Reform, which was the topic of the February 3rd meeting, and includes rule making and the future CCU System.

Participants in the Town Hall Meeting echoed concerns found on the Comments page of the NCUA website, available for review here.

Presentations and educational sessions were dominated by the economic crisis, its impact on credit unions, and how directors and management can deal with the changing credit union landscape it has caused. Practical sessions such as new investment strategies, dealing with increased check fraud, and understanding the health of a credit union by reading its financial statements were common. The serious undertone of the conference was mitigated by a host of fun events including a cruise on the Potomac River and a concert by Kenny Rogers.

Bluepoint enjoyed steady traffic at its booth, from both existing customers and new acquaintances stopping by to connect and see the latest products. NAFCU will hold its 2010 meeting at McCormick Place in Chicago.