BUSINESS (MERCHANT) CAPTURE

 

Image capture of deposited items from credit union member businesses and real-time transmission to Southwest Corporate for processing

 

Southwest Corporate has a unique business model that features the following:

• Single-source availability - Credit unions can obtain all elements of remote deposit from Southwest Corporate, including software, hardware implementation assistance, extended support, image exchange and check correction
• Support - dedicated support staff Monday through Saturday for software, hardware and balancing questions
• Workflow efficiency - Southwest Corporate performs MICR line corrections for the credit union, saving the credit union time and expense, while reducing the credit union's risk
• Implementation - An expert support team enables credit unions to implement remote deposit services according to their needs and timeline - no waiting in line
• Reporting - Online reports facilitate balancing and eliminate manual reporting between branches and the accounting and operations departments

 

Southwest Corporate's Business Capture service enables credit unions to provide business members the efficiency and cost savings of on-site deposits.

 

Among the many benefits to credit union members are:

• Improves service and eliminates or minimizes trips members make to deposit checks
• Expedites deposit collection and extends deposit deadlines
• Reduces deposit preparation errors and increases productivity

 

Among the many benefits to the credit union are:

• Provides a leading-edge service that is in high demand from business members
• Reduces workload and reduces error resolution
• Uses Courtesy Amount Read (CAR), Legal Amount Read (LAR) and Intelligent Repair System
• Detects duplicate items or batches
• Establishes review parameters for items per deposit, deposits per day
• Business Capture software provides images same day; TranZact archives seven years
• Provides access to Southwest Corporate's nationwide image clearing networks

 

 How Business Capture Works

• Check scanners are installed at the business member's location
• Software is downloaded and installed on the business member’s workstation
• The member scans images of checks to deposit
• Software performs CAR/LAR read and assists in correcting errors
• Software verifies image quality and balanced transactions
• Check images are automatically sent to Southwest Corporate via a secure transmission
• Credit union approves deposits based on its parameters
• Credit union posts deposit item file to core system
• Imaged checks are cleared the most expeditious and least-cost method
• Archived images can be accessed online
• Training is delivered to credit union

 

Southwest Corporate is at the forefront of remote deposit technology. Business Capture is one product in a full suite of Remote Deposit Solutions, which also includes Branch Capture, Teller Capture, Member (Consumer) Capture, ATM Capture and Image Deposit Returns. Credit unions receive full implementation, training, and ongoing support by a dedicated team of in-house specialists.

 

Image exchange relationships expedite processing, reduce the need for substitute checks, and provide substantial savings to credit unions. Southwest Corporate has invested in image exchange with every possible network.

 

Southwest Corporate has made major financial and technical investments in consolidator software, servers and system redundancies, so that credit unions do not have to make that investment on their own. Southwest Corporate provides ongoing monitoring and compliance of regulatory requirements for deposit processing to allow credit unions to focus on their core business.

 

For more information, contact an account executive at contactus@swcorp.org or 800.442.5763.