BY JANA FOWLER
Plano— How do you sustain vendor support for a mature service that remains critical to credit union business operations?
Such was the dilemma that led two corporate credit unions to partner in forming a CUSO – TranzCapture, LLC – to support credit unions’ continued need for remote deposit services (RDS). The TranzCapture service suite of “next- generation” RDS software includes branch, teller (no core integration), mobile, merchant and ATM/ITM/intelligent kiosk capture.
“With check volumes on the decline, some provider commitments to deposit processing, understandably, have waned in favor of pursuing new revenue streams,” said Brad Ganey, SVP/COO of Catalyst Corporate FCU, which along with Alloya Corporate FCU, coowns the TranzCapture CUSO.
“RDS licensing revenues have dried up, and business models no longer support much-needed system enhancements,” Ganey said. “And yet, billions of checks each year still need to be processed. The CUSO provides a modern, cost effective solution that signifi cantly reduces reliance on third-party vendors.”
“TranzCapture was built from the ground up with credit unions in mind,” said Ganey. “It incorporates many features requested by credit unions over the years, including some unique to the industry.”
Not your father’s RDS Innovation, in this case, is in the delivery of theservices. Replacing software installations at individual workstations with a web-based application substantially reduces or eliminates credit union resources required for implementation and ongoing product updates. Another key advantage is the integration of services into corporates’ online account management systems. This allows credit unions to manage RDS transactions in the same hub they manage ACH, wires and other corporate services.