Wescom Credit Union Selects OMEGA and ALERTMANAGER; Systems Enable Credit Union to Increase Competitive Advantage.Business Editors CLEARWATER, Fla.--(BUSINESS WIRE)--Jan. 5, 2004 Wescom Credit Union Wescom Credit Union is a credit union and financial services company serving Southern California. It has over $3.8 billion in assets and more than 295,000 members[1]. , a not-for-profit, 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. cooperative serving more than 200,000 members at 25 branches throughout Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , has selected ALERTMANAGER BY TWS TWS The Wildlife Society (founded in 1937) TWS The Wilderness Society TWS The Weekly Standard (political magazine) TWS Thermal Weapon Sight TWS Texas World Speedway TWS Tsunami Warning System (ALERTMANAGER) a real-time fraud prevention solution and OMEGA BY TWS (OMEGA), a Microsoft(R).NET-based ATM deposit management solution that automates the processing and management of an ATM deposit. TWS Systems, Inc. is a leader in ATM deposit management, fraud prevention and 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. solutions for financial institutions. TWS developed OMEGA to help its customers streamline and automate ATM deposit processing from start to finish. Using digital-image processing and handwriting recognition Handwriting recognition is the ability of a computer to receive intelligible handwritten input. The image of the written text may be sensed "off line" from a piece of paper by optical scanning (optical character recognition). (CAR/LAR/ICR) technology to read check deposit amounts, OMEGA dramatically reduces data entry for ATM reconciliation. The solution will also give a significant boost to Wescom Resources Group (WRG WRG Waste Recycling Group (UK) WRG Wargames Research Group (Wargame publishers) WRG World Radio Geneva (radio station) WRG Wiring WRG Whitney Research Group ), a CUSO CUSO Credit Union Service Organization CUSO Canadian University Services Overseas CUSO Canadian University Services Organization CUSO Carson United Soccer Organization for the nation's 18th largest credit union that offers ATM deposit processing solutions for other credit unions. "We balance a significant amount of ATM deposits for Wescom as well as other credit unions," said Kevin Sarber, co-president for WRG. "Our challenge was finding a way to raise the bar knowing that we are already a highly efficient operation balancing envelopes in excess of 700 per hour for each of our staff. OMEGA by TWS presented us with an opportunity to increase our competitive advantage over other service providers, while increasing our overall efficiency." 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. TWS President Milton King, OMEGA supports both distributed and centralized processing Processing performed in one computer or in a cluster of coupled computers in a single location. Centralized processing evolved from the computers in the 1960s, which were stand-alone with all input and output in the same room. environments, which should give WRG an immediate advantage. "It is built on the versatile Microsoft.NET platform, which allows communications across multiple systems and eliminates the need to maintain multiple servers and the staff required to manage those servers. OMEGA will help WRG better meet the needs of its members by offering secure ATM deposits," King said. Additional key components of OMEGA include an inherent disaster recovery feature, which stores and re-routes check images and data. It also has a lifecycle envelope management feature that tracks ATM deposits and gives managers the flexibility to schedule personnel based on the predicted volume of deposits. OMEGA was built with an eye on the future. OMEGA communicates using extended markup language markup language Standard text-encoding system consisting of a set of symbols inserted in a text document to control its structure, formatting, or the relationship among its parts. The most widely used markup languages are SGML, HTML, and XML. or XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. , an accepted format for most modern solutions. The company also recognizes the industry trend towards image-based ATMs and is fully prepared to meet and support the industry demands with its full imaging capabilities. With ALERTMANAGER, Wescom can customize its fraud prevention criteria to meet its specific needs. The system will review each transaction at the institution and automatically send an alert or warning when any of the pre-set fraud prevention criteria is met. "No two financial institutions are exactly alike and the institution's fraud solution should reflect those differences," Sarber said. "With ALERTMANAGER we can develop a 'warning system' that allows our customers to profile what's most important to them." TWS added a Primary Payment Systems(R) service to ALERTMANAGER earlier this year that gives users access to information from the National Shared Databases, which contains the most current and accurate status information on draftable accounts from across the country. It constantly updates users about possible fraudulent transactions; its users also have access to an online network where they can get information on fraud activity and updates on future training conferences. About Wescom Resources Group Backed by Wescom Credit Union, one of the nation's largest credit unions at $2.5 billion in assets and over 200,000 members, Wescom Resources Group provides credit unions with advanced technology solutions that increase productivity and improve member service. More information on Wescom Resources Group is available at www.wescomresources.com. About Wescom Credit Union Wescom Credit Union is a not-for-profit, financial services cooperative serving more than 200,000 members at 25 branches throughout Southern California. With assets totaling more than $2.5 billion, it is one of the largest credit unions in the country. Members have access to over 17,000 fee-free ATMs nationwide and a wide range of financial services. Membership is open to people living and working in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Orange, Riverside, San Bernardino and Ventura counties. Wescom was established in 1934 as a credit union for telecommunications employees. About TWS Systems, Inc. Clearwater, Fla.-based TWS Systems, Inc. is a privately held financial services company that is the first company to offer total deposit automation with image-based ATMs. TWS is the leading provider of transaction processing solutions and fraud prevention tools for the credit union industry, and is the largest provider of ATM management solutions for banks and credit unions. For additional information about TWS Systems, Inc. call 800.247.1342 or visit www.twssystems.com. |
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