April 27, 2009

 

 

ENDPOINT EXCHANGE DELIVERS CHECK IMAGE EFFICIENCIES TO SOUTHWEST CORPORATE

 

 

Endpoint Exchange announces that Southwest Corporate Federal Credit Union has deployed Endpoint Exchange’s cost-efficient and low impact implementation service for check image exchange. Endpoint Exchange is a leading national check image exchange provider and a Metavante (NYSE:MV) company, which provides banking and payments technology. Southwest Corporate is one of the nation’s largest corporate credit unions, serving nearly 1,500 member credit unions.

 

Connected to the Endpoint Exchange network since 2004, Southwest Corporate now uses X9 Express Direct, a secure Web portal that facilitates check image exchange and file transfer. The solution allows Southwest Corporate to send and receive electronic packages of individual check images, known as commingled image cash letters, directly through Endpoint Exchange.

 

“Endpoint Exchange helps Southwest Corporate best address the needs of small and mid-sized institutions, as we are currently providing check imaging services through the network to 720 member credit unions,” said Bill Brennan, Southwest Corporate’s director of Item Processing Operations. “Processing with X9 Express Direct has resulted in significant productivity improvement of our image exchange item and file management, balancing and reconcilement processes. The service reduced our full time equivalency costs for this exchange by half—which translates to lower costs for our member credit unions.”

 

“Every business day, financial institutions need an easy, reliable and affordable way to exchange check images with thousands of other financial institutions around the country. Our X9 Express Direct connects Southwest Corporate to the exchange through a cost-efficient, secure Web portal, one of the many remote options available through the service,” said Paul Danola, president, Metavante Image Solutions.

 

“By facilitating streamlined, electronic check image exchange through a single connection, Endpoint Exchange supports institutions like Southwest  Corporate in enabling its member credit unions to be as forward thinking, data secure and technology driven as the country’s largest financial institutions.”

 

Metavante’s image solutions provide comprehensive solutions that help institutions and businesses transition from paper to electronic payments and image processing. Solutions that include distributed capture, check and remittance processing, and fraud detection, as well as document and report management. Customers encompass organizations of all sizes from start-up organizations to the world’s largest financial institutions and corporations.