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:
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.
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.
Case Study: Tower Federal Credit Union Modernizes Check Processing
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.
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.