DELMARVA TAPS WAUSAU TO PROVIDE IMAGING TO MEMBER BANKS.
Delmarva Data Center, Pennsylvania's community banking technology alliance, has completed live image exchange with the Federal Reserve, utilizing Wausau Financial Systems' (WFS WFS Wegfahrsperre (German: drive away blocking system)
WFS Web Feature Service
WFS World Future Society
WFS World Food Summit
WFS Wave Front Sensor
WFS Wolfram Syndrome
WFS Wire Feed Speed (welding) ) Optima3(R) electronic check processing solution and Optima3(R) Electronic Clearing solution. The Pennsylvania center processes over $1.3 billion in check volume for a total of ten banks, and, with its parent company, Delmarva Data Center, processes over $8.7 billion in check volume for a total of 46 banks.
Recognizing the benefits of Check 21, Delmarva - PA has tapped WFS technology over the past ten years to provide flexible and scalable check imaging and clearing solutions to its member banks. This new comprehensive solution will allow Delmarva's member banks to achieve an enhanced level of savings, enabling cash letters to be moved the same day -- speeding cash flow and lowering operational costs.
Christine McCoy, president - Pennsylvania Operations, Delmarva Data Center, stated, "With new image-enabled electronic solutions that change the way traditional checks and cash letters are processed, we are uniquely positioned to help our community member banks mitigate mit·i·gate
To moderate in force or intensity.
miti·gation n. the impact and extract all the benefits of these new technologies. We strive to be flexible enough to meet customers' expectations, providing the flexibility with leading technology to offer our customers options leading them to full image exchange."
Nesquehoning Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. is Delmarva's first member bank to successfully complete live image exchange with the Federal Reserve utilizing the *FedForward(SM) Image Cash Letter Deposit service. The bank wanted to minimize its vulnerability to physical transportation risks, such as bad weather, natural disasters and rising transportation costs.
"The image cash letter offers a great advantage by eliminating transportation costs and providing the flexibility of various file deposit deadlines throughout the night," commented Richard Kuhn, president, Nesquehoning Savings Bank.
"Delmarva - PA has a rich history of providing world-class excellence and unsurpassed service to its member banks," said Nancy Langer, president - Payment Solutions for Wausau Financial Systems. "As we move toward complete electronification of payments, Delmarva - PA has positioned itself to fully leverage the economics of Check 21 and is paving the way towards a more efficient and effective payments system to better service its member banks."
Delmarva Data Center - Pennsylvania (formerly Enterprise Technology Alliance, Inc.) has operated as a co-operative since 1982, offering its members core/item processing and critical back office and technology support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services - enabling economies of scale that reduce operational costs, technology affordability and product availability that typically are only afforded to larger organizations. Its parent company, Delmarva Data Center (DDC See VESA DDC. ), since its formation by and for bankers in 1969, has been providing community financial institutions in Maryland and Delaware with superior state- of-the-art information and communication services. DDC provides both proprietary and Kirchman Bankway(R) core processing, statement rendering and 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 item processing.
About Nesquehoning Savings Bank
Nesquehoning Savings Bank serves Carbon County and surrounding areas in Pennsylvania. Nesquehoning Savings Bank is a full-service bank offering savings and checking accounts to businesses and customers.
About Wausau Financial Systems
Wausau Financial Systems (WFS) is a leader in delivering payment 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. processing solutions to 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. firms and businesses worldwide. WFS products, services and consulting provide innovative, customer-centric solutions for check processing, electronic presentment presentment: see indictment. , ACH (Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to payments, 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. , distributed capture and enterprise content management. Headquartered in Wisconsin, the company serves a diverse industry base, including financial institutions, insurance companies, utilities, retail businesses, governmental agencies and other companies.
For more information, visit http://www.wausaufs.com or call 715/241-4525 or visit http://www.frbservices.org.