Bluepoint Solutions Reports Best Q1 in Company History

CUs looking to lower operating costs via automation; member demand for mobile drive growth–

Vista, Calif. April 28, 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, today announced first quarter 2011 as the best first quarter in company history.  Aside from signing eight new financial institutions to its growing roster of clients, Bluepoint expanded nine current relationships.

“Q1 is historically slow in our market, but this quarter puts us on pace for the most successful year in company history,” said Hal Tilbury, CEO and founder of Bluepoint Solutions. “Credit unions are back in the market to buy technology. To compete with larger financial institutions entering their markets, many credit unions are looking to leverage state-of-the art content management and item processing solutions to lower operating costs and enhance member service levels. Products like mobile capture answer member demand, but also counterbalance the potential loss of non-interest income from merchant fees and the changes in tax-exempt status being discussed in Washington.”

During the first quarter, Bluepoint signed eight new ImagePoint contracts for check capture and item processing. Bluepoint’s ImagePoint solution captures and aggregates check images from all capture points, including branch, teller, ATM, merchant, home and mobile and creates electronic cash-letters for transmission to any endpoint.  It also automates much of the previously time-intensive Day 2 work on inclearings and returned items. The adoption of image-based processing has minimized the costs and labor required to manage image processing in-house, making the need to outsource the operation obsolete.

Bluepoint has also seen significant demand for its mobile deposit offering, adding new clients to its growing roster. QwikDeposit ToGo enables account holders to securely deposit checks with a camera-equipped smartphone, providing the convenience of anytime, anywhere deposits. This application is compatible with the majority of smartphones available in the U.S. market including the Android, iPhone and Blackberry operating systems.

Tilbury added, “The fact that credit unions are vigorously investing in new, member-facing technologies clearly demonstrates the improving health of the industry and the credit union movement’s ongoing commitment to innovation and member service.  We are pleased to continue to provide the preferred solutions that help them achieve these goals.”