Mobile Capture and Item Processing Identified as Key Growth Areas for 2011

Vista, Calif. Feb. 10, 2011 Bluepoint Solutions, winner of the 2010 CUNA Tech Council Best of Show award, and provider of Check 21, remote deposit capture, item processing and enterprise content management solutions for financial institutions, announced four credit unions have selected QwikDeposit ToGo as their mobile remote deposit capture platform.

The recent additions include San Jose, Calif. based Technology Credit Union ($1.5 billion in assets), Salt Lake City, Utah based, Mountain America Credit Union ($2.8 billion in assets), Albuquerque, N.M. based New Mexico Educators Federal Credit Union ($1 billion in assets) and Los Angeles Calif. based Financial Partners Credit Union ($735 million in assets). Speed-to-market and the flexibility of Bluepoint’s mobile capture platform were cited by many of the adopting credit unions as key deciding factors during the selection process.

Click Here to read 6 Trends Credit Unions Need to Know About Mobile Banking and RDC

Technology Credit Union’s CIO , Leslie Jeffries said, “The mobile capture offering is one of the most pivotal projects our credit union will be focusing on this year. As a means of remaining competitive, taking advantage of this leading-edge technology will not only position Tech CU to provide the services our current members have demanded, but also to attract new members.

The credit union will be deploying QwikDeposit ToGo in summer 2011.  “It was essential that the mobile deposit solution we selected would easily integrate with our overall mobile infrastructure, support a variety of mobile devices including the iPhone, Android operating system, Blackberry, Symbian OS and Windows Mobile devices and be built on modern technology,” Jeffries continued. “Bluepoint met all of our requirements and we look forward to making mobile deposit capture available to our members.”

Bluepoint’s QwikDeposit ToGo enables members to securely deposit checks with a camera-equipped smartphone, providing the convenience of anytime, anywhere deposits. The application is configured to support the majority of the smartphones available in the U.S. market and was among the first available on the Android operating system. QwikDeposit ToGo makes use of Mitek Systems’ patented mobile RDC solution, developed to assure users and credit unions of accuracy, security and convenience.

In an online abstract to a recent report by research and consulting firm Celent, senior banking analyst Bob Meara wrote:  “Mobile RDC invites the use of smart phones, either for check image capture alone or as part of a broader mobile banking solution. Both mechanisms will soon be broadly offered by financial institutions and widely used by consumers.”

Hal Tilbury, founder and CEO of Bluepoint, said, “Mobile deposit is quickly emerging as the must-have technology for financial institutions of all sizes in 2011. Our mobile capture offering is unique in that it can be deployed quickly with minimal upfront investment. This gives small to mid-size credit unions the ability to offer their members a sophisticated service and convenience that until now, has been limited to the larger, regional institutions. We are proud to partner with this group of forward-thinking credit unions that will be among the first to bring this technology to their members.”

About Technology Credit Union
Founded in 1960 by the employees of Fairchild Camera and Instrument Semiconductor Division, Technology Credit Union has served the high tech workforce in Silicon Valley for 50 years. Today, Tech CU has extended its membership benefits to small businesses and individuals who live and work in the greater Bay Area. The credit union is recognized as one of the best-managed and strongest financial institutions in the country. Tech CU’s 74,000 members have access to 60,000 surcharge-free ATMs nationwide, online and mobile banking, 9 full-service branches in the Bay Area, and comprehensive wealth management and small business services.

About Financial Partners Credit Union

Financial Partners Credit Union is a well-capitalized financial institution with more than 51,000 members and $710 million in assets, making it one of the largest credit unions in the Los Angeles area. With a 75-year history of lending, it has been ranked No. 1 in California and No. 4 in the nation for mortgage originations within its peer group. Membership is open to anyone who lives, works or attends school in Orange County and most Los Angeles County cities. For more information, visit the company’s website at www.fpcu.org.

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–30 credit union clients gain immediate access to modern technology platform–

Vista, Calif. Jan. 27, 2011 CUsource, a Montana-based credit union service organization, and Bluepoint Solutions, a 2010 CUNA Tech Council “Best of Show” winner and provider of remote deposit capture, item processing and enterprise content management solutions, have partnered to provide modern check processing technology to credit unions. CUsource will centrally host Bluepoint’s end-to-end item processing suite, as well as branch and home capture solutions.

“In mid-2010 CUsource began searching for a more advanced, comprehensive item processing platform,” said Shirley Bailey, President and CEO of CUsource. “After a thorough evaluation period, we determined that Bluepoint’s suite of check processing solutions would enhance the level and scope of service we provide to our member credit unions.”

CUsource, LLC is a Credit Union Service Organization (CUSO) in Montana offering quality products and services to credit unions and other cooperative organizations including data processing, print mail services, real estate services security services and draft services. The CUSO currently provides various draft services for 52 credit unions representing more than 400,000 members, and processes approximately 17 million items annually. Bluepoint’s solutions, including item processing, branch capture and home capture, will initially be implemented in 65 branches across approximately 30 different credit unions.

“We wanted a partner that understood and complemented our goals as a CUSO, and Bluepoint was the clear choice,” continued Bailey. “Bluepoint’s modern platform provides increased functionality in our existing product offerings and will support the addition of future offerings such as merchant capture. This is significant for all of our credit union clients, but is especially noteworthy for many of the smaller credit unions that up until now, have considered this type of technology out-of-reach.”

“Credit unions are being forced to do more with less,” said Hal Tilbury, founder and CEO of Bluepoint Solutions. “CUsource is leading the way in helping credit unions address this challenge by providing access to sophisticated technology. We are pleased to partner with CUsource to provide credit unions a single end-to-end check-processing platform that encompasses multiple capture points, image exchange and long-term archival and research.”

–Credit union takes item processing in-house with ImagePoint, adds comprehensive enterprise content management with FASTdocs–

Vista, Calif. Jan. 19, 2011 Bluepoint Solutions, a 2010 CUNA Tech Council “Best of Show” winner, Microsoft Gold Certified Partner and provider of remote deposit capture, item processing and enterprise content management solutions for financial institutions, announced that SunState Federal Credit Union, headquartered in Gainesville, Fla., has selected Bluepoint Solutions’ entire suite of item processing products with multiple capture solutions as well as Bluepoint’s full enterprise content management suite.

SunState Federal Credit Union operates eight branches throughout Florida, has more than 26,000 members and approximately $222 million in assets. Founded in 1957, the credit union was originally chartered to serve United States Department of Agriculture employees in Florida and has since expanded into a major financial resource for the community it serves.

“SunState FCU has taken a major step in fully automating its entire item processing and document management procedures, gaining efficiencies at virtually every point within the organization,” said Hal Tilbury, CEO and founder of Bluepoint Solutions. “Bluepoint is pleased to welcome SunState FCU as they join a growing number of credit unions that are bringing item processing in-house as part of an overall enterprise content management solution,” added Tilbury.

SunState FCU will be implementing Bluepoint’s complete end-to-end item processing suite, ImagePoint, including both branch and ATM capture points, a powerful aggregator, a multi-endpoint image exchange engine, and a feature-rich archive. In addition, the credit union will deploy Bluepoint’s full enterprise content management suite, FASTdocs, for distributed capture and member-centric storage and reporting, as well as Receipt Manager and Transaction Manager for enhanced transaction balancing and research. All of Bluepoint’s solutions integrate seamlessly, enabling universal access to all member information. Implementation on this new 5-year agreement begins in February.

Mobile Capture and Item Processing Identified as Key Growth Areas for 2011

VISTA, Calif., Jan 13, 2011 — Bluepoint Solutions, a 2010 CUNA Tech Council “Best of Show” winner, and provider of remote deposit capture, item processing and enterprise content management solutions for financial institutions, today announced record 2010 performance. Highlights include strong customer growth and retention numbers, plus expansion and further innovation within the company’s suite of technology solutions.

In 2010, Bluepoint Solutions experienced a 32 percent increase in the total number of new direct clients, with an existing customer renewal rate of over 95 percent. Bluepoint also experienced record growth in the industry’s adoption of its ImagePoint item processing solution, with 24 credit unions utilizing it to move item processing operations entirely in-house. Recognized by the CUNA Tech Council with the ‘Best of Show’ award at the BAI Retail Delivery conference, Bluepoint successfully launched one of the industry’s first RDC solutions for smart phones in July 2010.

With the dramatic increase in the use of smart phones, combined with consumer demand for mobile banking applications, the company has already experienced rapid adoption of the new solution, QwikDeposit ToGo.

“I am very proud of our team’s accomplishments and recognition this past year,” said Hal Tilbury, CEO and founder of Bluepoint Solutions. “Our performance in 2010 was very strong, capped by explosive growth in the fourth quarter. In-house item processing and mobile capture will be key areas for continued growth in 2011,” continued Tilbury.

About Bluepoint Solutions

Vista, Calif.-based Bluepoint Solutions is a leading innovator in remote deposit capture (RDC), image-based item processing, enterprise content management and receipt management. Adhering to strict best practice standards, Bluepoint delivers proven technology solutions and consulting services designed to achieve the strategic goals of increased employee productivity, reduced operating costs, and improved customer service. Bluepoint’s family of products and services offer a complete, end-to-end, image-based item capture and payment processing solution. For more information, visit www.bluepointsolutions.com.

–Credit union moves item processing in-house, streamlines operations, lowers costs–

Vista, Calif. Jan. 6, 2010 Bluepoint Solutions, a 2010 CUNA Tech Council “Best of Show” winner, and provider of remote deposit capture, item processing and enterprise content management solutions for financial institutions, announced that New Mexico Educators Federal Credit Union, with headquarters in Albuquerque, has selected Bluepoint”s comprehensive line of ImagePoint products for in-house item capture and processing. New Mexico Educators FCU joins a growing number of institutions that will move item processing from a third-party outsourcer to an in-house environment.

With over 125,000 members and approximately $1 billion in assets, New Mexico Educators FCU is the largest credit union in the state of New Mexico serving members of educational as well as health care organizations throughout the state with 16 branches. The credit union processes 18,000 items daily, including inclearings and returns.

New Mexico Educators FCU had already been using Bluepoint’s branch and home capture solutions that it had purchased from Southwest Corporate (now Southwest Bridge) Federal Credit Union. Bluepoint provided the credit union with a no-cost transfer of its ImagePoint Branch and QwikDeposit Home software licenses so that both will now be supported directly by Bluepoint. The ImagePoint platform, including all points of capture, provides an enterprise-wide, paperless solution that automates the processing, archival and research of check images.

“We had considered other outsource providers for our check processing. But with Bluepoint, we realized that managing check processing in-house would be  more efficient and more cost-effective. Plus, Bluepoint’s Transition Program allowed us to take advantage of the branch and home capture licenses we already had, while maintaining the continuity of service to our members,” said Tom Hagan, SVP of support services at New Mexico Educators FCU.

“Bringing item processing in-house allows credit unions, like New Mexico Educators FCU, to gain considerable control and streamline operations, while saving time and resources. With Bluepoint’s comprehensive solutions, the credit union can make exponential gains in efficiency with a single, modern technology platform that handles everything from the initial point of capture, to image exchange with the Fed, to long-term archival,” said Bluepoint’s CEO and Founder, Hal Tilbury.

–New case study projects savings of $10,000 per month, improved member service–

Vista, Calif. Dec. 15, 2010 Bluepoint Solutions, 2010 CUNA Tech Council Best of Show winner, and provider of remote deposit capture, image-based item processing and enterprise content management solutions for financial institutions, announced the release of a new client case study. The study offers an in-depth look at JSC Federal Credit Union’s implementation of Bluepoint Solutions’ ImagePoint item processing suite and Receipt Manager solution, moving the credit union’s item processing from a third party provider to an in-house environment. JSC Federal Credit Union, headquartered in Houston, Tex., operates 16 branches throughout greater Houston, and has more than 116,000 members and $1.5 billion in assets.

“JSC has had an excellent relationship with our corporate credit union for over 10 years, but the ongoing crisis in the corporate credit union system left us with little choice but to look for alternatives to the item processing services it provided,” said Paul Maslonka, chief operating officer at JSC Federal Credit Union. “We evaluated several alternatives, and determined bringing the process in-house was the best strategy for our institution and our members.”

The credit union cited streamlined workflow, ease of use and the projected savings as the primary reasons for selecting Bluepoint’s ImagePoint item processing platform. Based on the credit union’s current volume of 14,000 checks per day, Bluepoint estimated total cost savings of more than $10,000 per month, or $600,000 over 60 months. “We took the savings gained from moving our item processing in-house and invested it in ImagePoint Teller and Receipt Manager for all 16 of our branches including the cost of adding scanners at every teller workstation,” said Maslonka.

“The initial setup was painless and our daily work has changed very little. Now we simply download and upload files directly with the Fed,” Maslonka continued. “JSC has fully implemented ImagePoint Hub and ImagePoint Foundation for cash letter creation, forward presentment and in-clearing processing, and is currently deploying ImagePoint Teller plus Receipt Manager for front teller line check capture and enhanced transaction balancing and research.”

Bluepoint Founder and CEO, Hal Tilbury, said, “We have examined hundreds of credit unions’ check volumes and item processing costs. By taking control of its item processing with ImagePoint, JSC has made an investment in a solution that will afford it long-term cost savings and will remain viable until the last paper check comes across the teller line.”

Click here to download the full case study: JSC Federal Credit Union Launches Bluepoint’s In-House Item Processing System.

–Branch capture licenses purchased from WesCorp and Southwest Corporate can be upgraded for free–

Vista, Calif. Nov. 18, 2010  Bluepoint Solutions, winner of the 2010 CUNA Tech Council “Best of Show” award, and provider of Check 21, remote deposit capture, item processing and enterprise content management solutions for financial institutions, announced the immediate availability of a transition program for natural person credit unions that have branch capture software licenses purchased through Western Bridge Corporate Credit Union (WesCorp) and Southwest Corporate Federal Credit Union. The provider will honor existing licenses and is offering a complimentary upgrade to the most recent version of its ImagePoint Branch application when the credit union initiates a direct support contract with Bluepoint.

Bluepoint’s CEO and Founder, Hal Tilbury, said, “More than 1,000 credit unions are currently running Bluepoint’s branch capture solution through WesCorp and Southwest. The goal of the program is to allow these credit unions to continue using our solution that they know and trust without having to retrain their employees or make an additional financial investment. We are taking the lead from the NCUA Corporate System Resolution Plan and doing whatever we can to guarantee the continuity of payment services to credit unions and members. This is one way we can demonstrate our long-term commitment to the credit union movement.”

According to the NCUA, the first goal of its stabilization strategy is to prevent interruption of payment services to credit unions and the 90 million credit union consumers. Credit unions currently using branch capture solutions purchased from a corporate credit union can immediately transfer those licenses to Bluepoint with no service interruption or additional cost incurred.

Tilbury continued, “Credit unions have a lot of choices for their check capture technology and processing solutions.  We want them to know that Bluepoint will continue to work with them as they explore the best choices for their members.”

More information on the transition program can be found by visiting http://www.bluepointsolutions.com/transition.

–Bluepoint Solutions reports increased demand for ImagePoint; Adds 17 credit unions–

Vista, Calif.  Nov. 12, 2010 Bluepoint Solutions, winner of the 2010 CUNA Tech Council “Best of Show” award, and provider of Check 21, remote deposit capture, item processing and enterprise content management solutions for financial institutions, announced 17 credit unions selected ImagePoint as their in-house item processing solution.

All 17 credit unions share a common desire to gain greater control over a vital operation,  eliminate third-party costs, and clear checks directly with the Federal Reserve Bank.  They range in asset size from $2.2 million to $2.8 billion, and are located nationwide including California, Texas, Minnesota, Utah, New York, New Jersey, Louisiana, Florida and Delaware.

Bluepoint’s CEO and Founder, Hal Tilbury, said, “Credit unions of all asset sizes, across all geographic regions, and with all types of memberships are demonstrating the value of moving their item processing in-house and taking control of this crucial operation. The benefits are both scalable and universal.”

City and County Credit Union, headquartered in St. Paul, Minn. with $339 million in assets, made the decision earlier this year to move its item processing in-house. CEO, Pat Pierce, said, “Moving item processing in-house effectively stabilizes the cost of our check processing.  We will no longer be subject to pricing fluctuations or service interruptions from third-party outsource providers. ImagePoint is sophisticated enough to manage both transit items and in-clearings, yet simple and intuitive for the end-user to operate. Our staff was up and running on ImagePoint in a matter of hours, with minimum training required. We were also able to bring additional value to our members by keeping costs low and giving them access to images of their deposited checks and receipts online through their internet banking.”

Bluepoint’s ImagePoint check processing solution aggregates check images from all capture points, including branch, teller, ATM, merchant, home and mobile. The application then creates electronic cash-letters for transmission to any endpoint, automating many of the traditionally labor intensive check processing procedures that were required when paper checks were a part of the process. With ImagePoint, financial institutions have the ability to automatically perform courtesy and legal amount recognition (CAR/LAR), enterprise-wide duplicate detection and MICR line correction and repair.  ImagePoint enables automated processing of on-us items, transit items, in-clearings and returns, as well as providing a feature-rich check archive that can be integrated with online banking for account-holders to view deposited items and receipts.

Tilbury added, “With the adoption of image-based processing, the costs and labor required to manage item processing in-house are negligible.  This innovative technology has significantly modified the item-processing environment because the value previously inherent to outsourcing the process is now non-existent.  In this new world, there simply is no need to outsource an important operation that can now be almost entirely automated by software such as ImagePoint.”

–Award presented in recognition of leadership and commitment to credit union movement–

Vista, Calif.  Oct. 26, 2010 Bluepoint Solutions, a Microsoft Gold Certified Partner and innovator in remote deposit capture (RDC), image-based item processing and enterprise content management software technology for financial institutions, today announced it has been recognized by the CUNA Technology Council with their “Best of Show Award”. Bluepoint was presented the award during the BAI Retail Delivery Conference & Expo after demonstrating its commitment to furthering the growth of products and services in the credit union marketplace.

When announcing the Best of Show winner, Rudy Pereira, council chair and senior vice president of operations and technology for Alliant CU in Chicago, said, “Bluepoint Solutions was chosen from more than 200 exhibitors with a commitment to both credit unions and technology in mind. Our executive committee members canvassed the exhibit hall to determine who best fit this commitment. Bluepoint stood out as a technology innovator and we are excited to acknowledge them for this level of leadership.”

Chairman and CEO of Bluepoint Solutions, Hal Tilbury said, “Credit unions are integral to the financial industry. Winning this award shows Bluepoint’s ability to adapt to the changing needs of credit unions and their members.  The recognition by the CUNA Technology Council speaks to Bluepoint’s awareness of the strong trend towards mobile check capture and we are honored to be acknowledged as a leader in this arena by such a respected organization.”

Since 2001, the CUNA Technology Council has presented the Best of Show award to the exhibitor that demonstrates a commitment to delivering technology that will further the growth of products and services in the credit union marketplace. Vendors’ products are evaluated according to their affordability, the benefits they provide to credit unions and their members, a commitment to open standards such as the ability to be deployed across multiple core processors, whether or not they are currently in use, and the overall health of the company.

CUNA Technology Council

Established in 1995, the CUNA Technology Council is a member-led organization made up of more than 500 credit union technology experts across the United States. The Council’s goal is to shape the advancement of credit union technology by leveraging collective peer strength through the sharing of information and fostering of professional development. The CUNA Technology Council is one of the six organizations that make up the CUNA Councils, a network of more than 4,700 credit union professionals. For more information, visit www.cunatechnologycouncil.org or www.cunacouncils.org.