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VSoft News & Events

VSoft Press Releases – 2013

2013 Press Releases

Dec 18, 2013 – VSoft Offers New Adjustment and Research Services
to Its Data Center Clients

Research Team Partners with Institutions to Speed Up Adjustment Process

ATLANTA – December 18, 2013– VSoft Corporation, a global provider of information and technology solutions for financial institutions, announced today that VServe’s research team now offers adjustment services to all clients through its data center, VServe, Inc.

VServe performs thousands of adjustments each month for clients by partnering with various institutions to speed up the process and quickly resolve discrepancies. There are two categories of adjustments which include the basic adjustment process and the additional adjustment process.

The basic adjustment process handles both Fed and Institution initiated services. The Fed initiated service allows VServe to access a client’s Fed account to monitor the adjustment case and ensure completion. The Institution initiated service requires the institution to provide the items information for the research team. Additional adjustment services include forgery and late claims.

“We are excited to offer these new services to our clients,” said Murthy Veeraghanta, Chairman and CEO of VSoft Corporation. “Leveraging our experienced research team to address these time consuming tasks makes sense for many of the institutions we serve. Outsourcing adjustments allows financial institutions to focus their time and attention toward more business-critical activities.”

About VSoft Corporation

VSoft Corporation offers image-based check processing and image exchange solutions that that improve service, reduce cost and maximize efficiency for financial institutions. Its check truncation solutions provide seamless, real-time, high-volume and high-performance transactions across multiple channels, including Remote Deposit Capture. Beyond the solutions themselves, perhaps one of the most compelling benefits VSoft offers is our ability to provide our innovative solutions on a single unified platform.

VSoft’s services have been trusted by more than 2,600 financial institutions worldwide. For more information call 770-225-7692 or visit www.vsoftcorp.com.


Nov 14, 2013 – MBM Partners with VSoft Corporation to
Provide Advanced Technology Solutions to Caribbean Banks

Caribbean Banks will benefit from web-based check processing solutions and will gain operational efficiency through check truncation.

ATLANTA – November 14, 2013– McEnearney Business Machines (MBM) a leading Caribbean provider of business equipment, electronic security and specialized technology solutions in Trinidad & Tobago and VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, announced their partnership today that will provide advanced image-based check processing solutions to the Caribbean market.

The partnership allows institutions to take advantage of VSoft’s industry-leading technology while leveraging MBM’s exceptional local support and vast experience in serving the check processing market. MBM has been a financial solutions provider to the Caribbean Banking industry for over 30 years. There are remarkable synergies between the two organizations including their joint commitment to customer satisfaction and their continuous investment in next-generation technology. Both firms have assisted the banking community in the delivery of the Eastern Caribbean Automated Clearing House.

With VSoft’s web-based solutions, institutions will no longer be restricted to single location processing, which will improve workflows and processing timelines. The robust solution set is delivered on a single unified platform and includes both remote deposit capture and check truncation modules. The solution also features a Digital Dashboard, which is a real-time, enterprise-wide monitoring tool that includes drill-down technology, allowing both a broad view and quick access to underlying details.

“MBM is looking forward to the partnership with VSoft,” stated Robert Boopsingh, Managing Director for MBM, “VSoft has helped over 2,600 financial intuitions across the United States and Asia through the paradigm shift to distributed entry points and check truncation. We are excited to partner with VSoft to offer their experience and advanced image exchange solutions to the Caribbean market.”

“MBM is the ideal partner for VSoft,” said Murthy Veeraghanta, Chairman and CEO of VSoft Corporation. “Our companies share a commitment to the success of our customers, which is an important factor in building a long-term relationship. As distributed data entry and check truncation continues to gain momentum in the Caribbean market, and forward-looking institutions like Republic Bank Limited sign on with us, we are fortunate to have a strong, vibrant company like MBM to provide local support to our mutual customers.”

About MBM

McEnearney Business Machines (MBM) is a division of ANSA McAL Trading Limited, a wholly owned subsidiary and member of the ANSA McAL Group of companies. MBM was established in 1968, with its registered office located at 34 Richmond Street in Port of Spain, Trinidad and Tobago.

The company is committed to providing workplace solutions, which allow greater efficiency and reduced costs for its clients’ business operations. MBM services businesses across all industries including Financial Services; Oil & Gas and Manufacturing and offers technology solutions in the areas of Imaging; Printing; End user devices; Storage; Network Infrastructure; Item Processing, HSSE technology and Professional services.

About VSoft Corporation

VSoft Corporation offers image-based check processing and image exchange solutions that that improve service, reduce cost and maximize efficiency for financial institutions. Its check truncation solutions provide seamless, real-time, high-volume and high-performance transactions across multiple channels, including Remote Deposit Capture. Beyond the solutions themselves, perhaps one of the most compelling benefits VSoft offers is our ability to provide our innovative solutions on a single unified platform.

VSoft’s services have been trusted by more than 2,600 financial institutions worldwide. For more information call 770-225-7692 or visit www.vsoftcorp.com.


Oct 7, 2013 – State Employees’ Credit Union Adds ATM Capture to its Portfolio of Solutions Provided by VSoft

State Employees’ Credit Union Adds ATM Capture to its Portfolio of Solutions Provided by VSoft Credit Union grows its relationship with VSoft by adding new remote deposit offerings

RALEIGH and ATLANTA – October, 7, 2013– State Employees’ Credit Union (SECU), a Raleigh, NC-based credit union, and VSoft Corporation, a global provider of information and technology solutions for financial institutions, announced today that SECU added VSoft’s ATM Capture product to its membership offerings.

Serving over 1.8 million members, the $27 billion SECU continues to grow by holding to its principle of “People helping People.” SECU puts its membership first especially when considering new products or services. With over 1,100 ATMs in service, the credit union saw the ability to automate the collection of check deposits at the ATM as a tremendous way to lower costs of operating and servicing its ATMs.

“The success of our credit union is directly attributed to our passion for ‘Doing the Right Thing’ for our membership,” said Sue Douglas, Chief Operations Officer for State Employees’ Credit Union. Douglas added, “Providing members with an easy, convenient way to make deposits using one of our many ATMs has made sense from both a member-service and an operational efficiency perspective for many years. Realizing the tremendous cost savings of automating and imaging checks being deposited at the source, we selected VSoft to provide this capability for us for a number of reasons. Not only has VSoft provided us with branch imaging and image cash deposit software for years, but VSoft is one of the few vendors that continues to make significant investments in check processing products.”

VSoft’s ATM Capture solution works seamlessly with all major hardware providers. The solution collects and integrates images and data transmitted by image enabled ATMs for processing. Like all VSoft remote deposit capture solutions, ATM Capture is delivered on a single unified platform, which provides a comprehensive look into the financial institution’s distributed capture network. Also, with VSoft’s ATM solution, SECU has the ability to set thresholds at the individual ATM location.

“We were fortunate to partner with State Employees’ Credit Union back in 2006. The credit union’s recent decision to grow their relationship with us is something that we do not take lightly,” said Murthy Veeraghanta, Chairman and CEO of VSoft Corporation. “We are honored to help State Employees’ Credit Union offer new, convenient solutions for their membership. VSoft is excited to continue this partnership.”

About SECU

A not-for-profit financial cooperative owned by its members, SECU has been providing employees of the State of North Carolina and their families with consumer financial services for over 75 years. With 1.8 million members, SECU provides services through 250 branch offices, 1,100 ATMs, 24/7 Contact Centers and a website, www.ncsecu.org.

About VSoft Corporation

VSoft Corporation offers core and payment-processing solutions on a unified platform that improve service, reduce cost and maximize efficiency for financial institutions. Its solutions provide seamless, real-time, high-volume and high-performance transactions across multiple channels and can be delivered in–house, or as an outsourced ASP or SaaS model to best meet the needs of individual financial institutions.

VSoft’s services have been trusted by more than 2,600, credit unions, banks and savings institutions and data centers worldwide. For more information call 770-225-7692 or visit www.vsoftcorp.com.


Sept 24, 2013 – Public Service Credit Union Expands Relationship
with VSoft

Public Service Credit Union Expands Relationship with VSoft Credit Union leverages VSoft’s Unified Platform to add Mobile and Merchant Capture

ATLANTA, September 24, 2013– VSoft Corporation, a global provider of information and technology solutions for financial institutions, announced today that Denver-based Public Service Credit Union has added VSoft’s Mobile and Merchant Capture solutions to its remote deposit offerings.

With over 1.2 billion in assets and 140,000 members, Public Service Credit Union is focused on providing the means for members to achieve their financial goals. Since 2010 the credit union has trusted VSoft for a variety of solutions including: Teller Item Capture, Branch Item Capture, ATM Capture and more. For Public Service Credit Union, an outsourced deployment model using VSoft’s data center works best to meet its needs.

“We are a member-focused organization,” said David Pierce, chief information officer for Public Service Credit Union. Pierce added, “We proactively evaluate our member-base and look for opportunities to improve their financial lives. A careful assessment of our members’ needs and of solutions in the market led us to our decision to expand our relationship with VSoft. VSoft’s single platform delivery offers functionality, like enterprise-wide duplicate detection and risk profile management, that we were looking for in an RDC solution.”

VSoft has completed seamless integration and is currently in production with a number of mobile banking platforms, including Access Softek, which is Public Service Credit Union’s chosen mobile banking provider. VSoft’s Mobile and Merchant Capture solutions will reside on the single platform already deployed at the credit union and will use the system’s underlying workflows to meet channel-specific needs. Both Mobile and Merchant Capture will strengthen the credit union’s relationship with its members, particularly with its growing number of small business members.

“We are excited that Public Service Credit Union has decided to grow with VSoft”, said Murthy Veeraghanta, Chairman and CEO of VSoft Corporation. Incorporating Mobile and Merchant Capture into their RDC strategy will allow them to expand their market to surrounding areas, while providing new, convenient solutions for their account holders. We are looking forward to continuing this partnership.”

About VSoft Corporation

VSoft Corporation offers core and payment-processing solutions that improve service, reduce cost and maximize efficiency for financial institutions. Its solutions provide seamless, real-time, high-volume and high-performance transactions across multiple channels and can be delivered in–house, or as an outsourced ASP or SaaS model to best meet the needs of individual financial institutions.

VSoft’s services have been trusted by more than 2,600, credit unions, banks and savings institutions and data centers worldwide. For more information call 770-225-7692 or visit www.vsoftcorp.com.


Sept 10, 2013 – VSoft Adds Financial Platform to CoreSoft with
BankTEL Partnership

VSoft Adds Financial Platform to CoreSoft with BankTEL Partnership VSoft’s core banking platform offers complete suite of financial solutions by BankTEL

ATLANTA, GA and COLUMBUS, MS, Sept. 10, 2013 VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, and BankTEL Systems, announced their partnership today that will provide full integration of VSoft’s core banking platform and BankTEL’s portfolio of financial solutions.

The partnership adds BankTEL’s time-tested and highly recommended financial platform as a powerful compliment to CoreSoft, VSoft’s next generation browser-based core banking system. CoreSoft customer, Virginia-based Carter Bank & Trust, is the first to sign on for BankTEL’s financial solutions through the VSoft partnership. Carter Bank & Trust will take advantage of a variety of cost-reducing tools including BankTEL’s Accounts Payable solution, which will automate the bank’s complete bill payment process. The bank will also use the Fixed Asset, Shareholder Management and Vendor Management Systems. “Because CoreSoft’s design facilitates easy integration of third party solutions,” said Worth Harris Carter, Jr., Chairman and President of Carter Bank & Trust, “all BankTEL products will be accessed through our in-house CoreSoft system with a Single-Sign-On (SSO).”

“BankTEL is excited about the partnership with VSoft,” Boyce Adams, Vice President of Marketing and Sales. “We had the opportunity to participate in VSoft’s user conference, where we met Carter Bank & Trust. VSoft’s core banking system and our portfolio of products are both gaining momentum as financial institutions look for modern alternatives to their current solutions. The partnership is definitely positive for VSoft and BankTEL, but is even more valuable to our customers.”

“We launched our core system, CoreSoft, a few years ago and have been very careful with the decisions we’ve made to advance the product” said Murthy Veeraghanta, chairman and CEO of VSoft Corporation. “The combination of BankTEL’s user-friendly, intuitive solutions and the company’s commitment to customer satisfaction make them an ideal partner. We are excited to offer our clients BankTEL’s suite of accounting applications.”

About VSoft Corporation

VSoft Corporation offers core and payment-processing solutions that improve service, reduce cost and maximize efficiency for financial institutions. Its solutions provide seamless, real-time, high-volume and high-performance transactions across multiple channels and can be delivered in–house, or as an outsourced ASP or SaaS model to best meet the needs of individual financial institutions.

VSoft’s services have been trusted by more than 2,600 financial institutions worldwide. For more information call 770-225-7692 or visit www.vsoftcorp.com.


Mar 26, 2013 – Midwest Business Solutions Selects VSoft’s
Core System

Midwest Business Solutions Selects VSoft’s Core Banking System Credit Union Service Organization to increase operational efficiency with VSoft’s next generation core processing platform

Rapid City, SD, March 26, 2013 – Midwest Business Solutions (MBS), a Credit Union Service Organization (CUSO) announced that is has selected VSoft Corporation’s core banking system, CoreSoftTM, for core processing. VSoft is a Georgia based provider of core (CIF, Deposits, Loans, General Ledger, Teller, etc) systems and item processing solutions for everything that touches a check.

MBS had clear objectives when selecting a new core application. Technology, flexibility, growth and operational efficiencies were a few of their key strategic goals. MBS is an asset to credit unions across the country assisting with policies, education, credit analysis, underwriting, risk management and portfolio management. The advanced capabilities CoreSoft provides will ensure that MBS continues to add value to the institutions they serve.

“It’s a great system. The combination of CoreSoft, its next generation technology and design along with VSoft’s outsourcing delivery out of its Duluth, GA datacenter provides us with unparalleled flexibility, integration with any third party solutions we choose and ease of use,” said Phil Love, CEO of MBS.

Love added, “CoreSoft’s capabilities will enable us to better utilize our staff that will now use leading-edge technology to do their jobs. As a result, MBS can continue to grow by offering “World Class” services to other credit unions while at the same time control operating expenses as employees perform more efficiently with better information and systems to make risk mitigated decisions.”

“We are pleased MBS selected the CoreSoft solution”, said Murthy Veeraghanta, Chairman and CEO of VSoft Corporation. CoreSoft was designed to support all types of financial institutions with strategic growth and performance objectives. MBS is a progressive organization that is focused on maximizing the level of service they provide to the credit unions they serve. We are looking forward to this partnership.”

About Midwest Business Solutions

Midwest Business Solutions (MBS) is a Credit Union Service Organization (CUSO) focused on providing underwriting and portfolio management services for commercial and agricultural loans. MBS’ members do business in the upper Midwestern states of North Dakota, South Dakota, Nebraska and parts of Montana, Minnesota and Iowa. The size of this territory is vast, covering over 225,000 square miles. The Credit Unions in these states hold over $35 billion of assets and provide a viable alternative to “Main Street America” businesses that have been overlooked by large Wall Street banks.

About VSoft Corporation

VSoft Corporation offers core and payment-processing solutions that improve service, reduce cost and maximize efficiency for financial institutions. Its solutions provide seamless, real-time, high-volume and high-performance transactions across multiple channels and can be delivered in–house, or as an outsourced ASP or SaaS model to best meet the needs of individual financial institutions.

VSoft’s services have been trusted by more than 2,200, credit unions, banks and savings institutions and data centers worldwide. For more information call 770-225-7692 or visit www.vsoftcorp.com.


Jan 7, 2013 – Great Western Bank Implements VSofts Item Capture
and Image Processing Solutions

Great Western Bank Implements VSoft’s Item Capture and Image Processing Solutions to Accommodate Aggressive Growth Goals

ATLANTA, Jan 7, 2013 – VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, announced today that Sioux Falls, S.D.-based Great Western Bank selected VSoft’s branch and item capture and image processing solutions for its nearly two hundred branches.

Great Western Bank recently experienced significant growth due to several acquisitions, reaching over $9 billion in assets, and expects this number to double in the next two years. To accommodate rapid growth goals, the bank replaced its existing payments platform with VSoft’s branch item capture solution, which enables branch operators to key, balance and reject/repair images at point of capture, rather than defer that work to a central operations area. The bank is also performing inclearing, and transmission of cash letters with VSoft’s image exchange solution.

“As our expansion continues, we need a solution that gives us the flexibility to review images at any point,” said Kirby Shroll, executive vice president of bank operations for Great Western Bank. “VSoft provides the exact technology we were looking for. Its comprehensive suite of solutions delivers the features and functionality that meet our needs, and we are confident that VSoft will better prepare us to handle increased volume with the utmost efficiency during our time of rapid growth.”

Great Western Bank will also use VSoft solutions to enable image delivery through customer estatements, CDs or by interfacing directly to home banking systems. The bank will further improve branch processing procedures by deploying VSoft’s application designed to prevent duplicate items.

“VSoft solutions are designed to integrate seamlessly with an institution’s current system. Allowing the bank to choose between a centralized or in-branch processing model will be a tremendous asset to Great Western Bank during its expansion,” said Murthy Veeraghanta, chairman and chief executive officer, VSoft Corporation. “VSoft’s branch item capture solution meets Great Western Bank’s immediate needs and offers complete scalability to handle greater volumes with ease and accuracy as their growth continues.”

About VSoft Corporation

VSoft Corporation offers core and payment-processing solutions that improve service, reduce cost and maximize efficiency for financial institutions. Its solutions provide seamless, real-time, high-volume and high-performance transactions across multiple channels and can be delivered in–house, or as an outsourced ASP or SaaS model to best meet the needs of individual financial institutions.

VSoft’s services have been trusted by more than 2,200 banks, credit unions and savings institutions, as well as transaction processors, governments, utilities, telecommunications and retail organizations worldwide. The company’s growth and stability has been recognized by inclusion in the Inc. 5000 list for four years running and featured in Bank Technology News’ 9th Annual Innovator Awards for CoreSoft, its core solution. For more information call 770-225-7692 or visit www.vsoftcorp.com.