IH Mississippi Valley Credit Union Implements VSoft's Check 21 Software.

Imaging System Expedites Clearing Process, Reduces Costs

ATLANTA -- VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, announced that IH Mississippi Valley Credit Union (IHMVCU), the largest credit union in the Illinois, Quad City area, has chosen to implement its Image Capture, Check 21 and Returns software. The implementation allows IHMVCU to create outgoing image cash letters for exchange with the Federal Reserve and accept incoming image files as returned items.

"We are dedicated to improving the economic well-being of our members by providing comprehensive financial services using the most advanced technologies," said Scott Zahnle, Vice President of Information Technology, IHMVCU. "VSoft's check imaging and exchange solutions will allow us to move our payment processing system from paper to images, improving our operational efficiencies while enhancing services offered to our members."

VSoft's image capture and Check 21 software allow IHMVCU to exchange electronic cash letters with images directly or through exchange organizations. This eliminates the need to encode and send outbound checks through a courier. The credit union can also print substitute checks if an endpoint cannot receive electronic cash letters.

"IH Mississippi Valley Credit Union will quickly realize cost savings and improvements in their back office operations," said Murthy Veeraghanta, president, VSoft Corporation. "Replacing their paper processing system with a full imaging system to send and receive files will also allow the credit union to provide enhanced services to their members in the Quad City area, and improve funds availability."

A virtual sorter replaces a physical sorter for processing electronic, in-clearing cash letters for Prime or Return Items. The Check 21 software screens and logs IHMVCU's incoming and outgoing cash letters, while maintaining a complete history and audit trail by time-stamping each of the incoming and outgoing files along with the source and destination of each file. Built-in intelligence automatically detects out-of-balance conditions and directs the operator to the correct item. A browser-based presentation layer enables a supervisor to access the VSoft system from any PC in the credit union.

About IH Mississippi Valley Credit Union

As the largest credit union in the Quad City area, IH Mississippi Valley Credit Union (IHMVCU) operates twelve branches including locations in Davenport, Bettendorf and DeWitt, Iowa, as well as Moline, East Moline, Silvis, Rock Island, Milan, Prophetstown, and Galesburg, Ill. IHMVCU is a full-service financial institution that provides a long list of products and services to the people of the Quad Cities. Founded in 1934 by employees of International Harvester, IHMVCU has more than 86,000 members and more than $600 million in assets, making it the sixth largest credit union in Illinois.

About VSoft Corporation

Established in 1996, VSoft Corporation is a global provider of financial technology solutions that improve service, reduce cost and maximize efficiency. Included in Deloitte & Touche's Technology Fast 50 and the 2007 Inc. 5,000, VSoft's solutions are used by more than 1,700 financial institutions worldwide. Its broad image-based solutions include distributed deposit and payment capture across all points of presentment, back office check processing, image exchange, document management, remittance and lockbox operations. VSoft was rated by Celent as "the overall performance leader in advanced technology and breadth of features," and was selected by Bank Technology News as one of The Innovators 2007, an annual ranking of the 25 most advanced people, companies and technologies in the financial industry. Customers include banks, credit unions, savings institutions, transaction processors, governments, utilities, telecommunications and retail organizations. VSoft's proven products and services ensure versatile and rapid delivery of solutions to mission-critical needs. For more information call [phone] or visit vsoftcorp.com.