Advanced Financial Solutions Teams with Southeast Corporate to Offer Branch Capture to Member Credit Unions.Business Editors OKLAHOMA CITY--(BUSINESS WIRE)--April 13, 2004 Advanced Financial Solutions, Inc.: -- Branch Capture Technology Positions Southeast Corporate's Member Credit Unions to Become Fully Image-Enabled -- from Image Capture at the Point of Presentment presentment: see indictment. Through Electronic Check Clearing & Settlement Advanced Financial Solutions, Inc. (AFS A distributed file system for large, widely dispersed Unix and Windows networks from Transarc Corporation, now part of IBM. It is noted for its ease of administration and expandability and stems from Carnegie-Mellon's Andrew File System. AFS - Andrew File System ), a leading provider of image-based item processing solutions to the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry, and Southeast Corporate, one of the nation's largest corporate credit unions, today announced that they will be making the AFS Branch Capture application available to Southeast Corporate's member credit unions. AFS Branch Capture will allow Southeast Corporate's member credit unions to image-capture and truncate To cut off leading or trailing digits or characters from an item of data without regard to the accuracy of the remaining characters. Truncation occurs when data are converted into a new record with smaller field lengths than the original. check transactions at the branch, and then transmit the images to Southeast Corporate's item processing center. Posting and processing can start immediately after transmission to the item processing center. AFS Branch Capture improves branch transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. and reduces back office item processing costs while optimizing the truncation-related benefits provided as a result of the Check 21 Act. Southeast Corporate, based in Tallahassee, Fla., has been a leading advocate in the credit union movement toward electronic check clearance. As a credit union for credit unions, and one of the nation's largest credit union check processors, Southeast Corporate has been at the forefront of providing imaged item processing services to the credit union industry. Last year Southeast Corporate became one of the first Corporate Credit Unions to join CheckClear's Endpoint Exchange Network, making nationwide check image exchange available to all its member credit unions. "The Check 21 legislation brings an end to the traditional paper-based approach for conducting branch transactions and ushers in the era of check truncation and image exchange," said Kay KAY Kick Ass Year KAY Kansas Association of Youth Moon, Southeast Corporate Senior Vice President of Correspondent Services. "With the provisions of the Check 21 Act going into effect this October we needed to position our member credit unions to capture check images as early in the clearing process as possible, particularly at the branches. Our goal has been to fully image-enable our member credit unions to capture check images at the branches, and then transmit to our Southeast Corporate item processing center for posting, archival, and institution-to-institution image exchange, through the Endpoint Exchange Network. With AFS as our technology partner we are now able to do that." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Jeff Vetterick, AFS VP of Marketing, the multiple benefits of Branch Capture make it a natural fit for the corporate credit union market. "AFS Branch Capture provides Southeast Corporate's member credit unions with many advantages. Since all items deposited at the credit union are imaged and beamed to Southeast Corporate almost immediately, the member credit union can offer more competitive availability for deposited checks, while reducing cost and time pressures associated with sending paper." About Advanced Financial Solutions Founded in 1992, AFS has delivered high-quality image-based and conventional check processing solutions to the financial services industry. AFS was one of the first companies to offer image and item processing technology based on the Microsoft Windows See Windows. (operating system) Microsoft Windows - Microsoft's proprietary window system and user interface software released in 1985 to run on top of MS-DOS. Widely criticised for being too slow (hence "Windoze", "Microsloth Windows") on the machines available then. NT operating environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. . All AFS item imaging solutions are designed from the ground up with the functionality that banks and remittance Money sent from one individual to another in the form of cash, check, or some other manner. Financial statements sent by a creditor to a debtor frequently refer to the process of submitting a monthly remittance. REMITTANCE, comm. law. processors need for operating in a high capacity transaction-based environment. Headquartered in Oklahoma City Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm , AFS maintains offices worldwide. About Southeast Corporate Southeast Corporate is a wholesale supplier of investment, item processing & imaging, correspondent services and liquidity solutions to credit unions regardless of location. We provide value-added solutions to help our members become more successful. Our website will help you learn more about our competitive rates and quality services offered to credit unions. To find out more contact us at membership online, or at 1-800-342-0203, opt. 1. |
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