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Check Payment Processing for Credit Unions


 

 

 

 

 

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Check Payment Processing for Credit Unions


 

 

 

 

 

The Only Check Processing Solution You’ll Ever Need

Today, with most checks being captured as images from multiple capture points, there’s no longer a need for traditional, outsourced processing. Bluepoint Solutions ImagePoint Suite is a complete solution for managing credit union item processing in house. Designed with a fully automated workflow already built in, the full suite includes fraud detection, cashletter creation, inclearing and return processing, and check archiving.

An affordable way to avoid high outsourcing fees, the cost justification for bringing this process in house can only increase as check volumes continue to decline over the coming years and decades. You, or your members, already do the work of capturing check images—why not bring the rest of the process in-house? Make a one-time investment that will last through the final days of paper checks.

Read on to learn about our four flexible end-to-end item processing solutions:

 
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ImagePoint Fraud Modules for Credit Unions


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ImagePoint Fraud Modules for Credit Unions


Reduce Losses, Stop Fraudulent and Counterfeit Checks

Check fraud accounts for up to 37% of deposit account losses, according to the latest data from the ABA. Reacting fast is the key to protecting both the member making a check deposit and the credit union accepting it. Bluepoint Solutions fraud and counterfeit detection modules are real-time services integrated with the ImagePoint and QwikDeposit capture applications. Tellers and back office staff are alerted immediately when a high-risk check is identified, enabling them to alert the member and apply an extended hold or reject the item. Avert fraudulent and counterfeit checks, reducing check losses for both your credit union and your members.

  • Validates checks against more than 90% of all demand deposit accounts in the U.S.
  • Identifies counterfeit checks using a single, consolidated database from the Fed, CUNA, IAFCI, CUNA Mutual, FDIC and more
  • Facilitates member communications by giving teller specific talking points when an item is flagged
  • Protects both the credit union and its members with justified Reg CC hold extensions

Related Industry Research

Case Study: Orion FCU Eliminates End-of-Day Balancing and Reduces Teller Overtime

> Read More

White Paper: Cheating With Checks: An Update On The Changing Check Fraudscape

> Read More

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ImagePoint Hub for Credit Unions


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ImagePoint Hub for Credit Unions


Simplify Your Check Processing

Efficient image-based item processing aggregates check images from all capture points—mobile, merchant, ATM, ITM, teller, branch and mailroom. ImagePoint Hub from Bluepoint Solutions automates this workflow. Credit unions can now collect items from every capture point they use, and create a single image cashletter for transmission to any endpoint, and for posting to the credit union’s core processor. Cross-channel, real-time duplicate detection and comprehensive Image Quality Analysis (IQA) are part of the process, which slashes costly Day 2 returns. Fully consolidate and automate your processing workflow to speed deposits while reducing operating overhead.

  • Performs duplicate detection on all items across all capture points
  • Integrates with proprietary and third-party fraud and counterfeit databases
  • Offers instant access to check images for research and response to members—no waiting for items to become available
  • Transmits multiple cashletters daily, based on number of items, combined dollar amount, or time of day
  • Allows the configuration of user permissions and settings on all capture points 

Related Industry Research

Case Study: Tower Federal Credit Union Modernizes Check Processing

> Read More

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ImagePoint Foundation for Credit Unions


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ImagePoint Foundation for Credit Unions


Take Control of Your Day 2 Operations

Managing inclearing and returned checks has long been a highly specialized task requiring manual research and processing. ImagePoint Foundation is a Day 2 system that automatically compares inclearings to a credit union’s core system, makes pay/no-pay decisions fast and easy, and creates and sends an outbound return file. Returned items can be re-presented or accepted, allowing members to be notified quickly. And the system is simple enough to become part of your daily activities. Get a better handle on your item processing with these sophisticated forward presentment and inclearing management tools.

  • Eliminates the need for outsourcing without requiring added in-house staff or specialized training
  • Provides higher-volume credit unions the flexibility to create multiple cashletters for multiple endpoints
  • Combines inbound cashletters from various endpoints for faster processing of inclearings
  • Scales readily to any volume of check, serving data-centers, service bureaus and correspondent institutions
  • Sends transit items to multiple endpoints based on customizable sort patterns

Related Industry Research

Case Study: Coconino Federal Credit Union Creates Long-Term Benefits by Bringing Item Processing In-House 

> Read More

Case Study: JSC FCU Launches In-House Item Processing 

> Read More

Case Study: Financial Partners Credit Union Switches to the Fed’s Check ServicesStory Headline Here

> Read More

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ImagePoint Archive for Credit Unions


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ImagePoint Archive for Credit Unions


Securely Store and Access Checks and Transaction Data

The advent of image-based check clearing has made low-cost, accessible, immediate archive storage a reality. ImagePoint Archive is a searchable electronic repository for check images that completely eliminates the need to store paper checks. Credit unions gain not only storage, but full statement creation, research functionality, and access to check images for use in Internet banking. With Archive, your staff can instantly respond to individual member questions, or perform large scale data retrieval and exporting. Boost productivity and member service, and make your data work harder for you, without high-cost storage and dedicated research teams.

  • Reduces archive costs with the digital storage of all checks
  • Offers a web-based, home-banking API that easily integrates with other systems to display deposited and cleared items
  • Easily imports any other system’s X9 files—streamlining the conversion process