By allowing businesses to capture check images remotely, Catalyst Corporate's Business Capture addresses the obstacles of limited branches and limited time – making it easier for small businesses, sponsor groups and select employee groups (SEGs) to use a credit union. Scanned deposited items are transmitted directly from the business to Catalyst Corporate's central administration for processing, clearing and collection. The credit union has the ability to review, modify or delete items/batches before they are processed.
Credit unions have a choice between the “thin client” and standard applications with this service. The difference is in the method used to install the service at member business locations.
Features & Benefits:
- The thin client application enables member businesses to install the software remotely over the Internet, while the standard version involves onsite installation.
- The solution is scalable for any size credit union or business.
- A simple step-by-step scanning process is supported by help menus.
- Online deposit history with images is available to the member business.
- Centralized administration provides convenience for credit unions across all remote deposit channels.
- Member-deposited items are transmitted in real time to Catalyst Corporate through a secure connection.
- Duplicate items are detected automatically by the system.
- Software verifies alpha and numeric amounts (CAR/LAR technology) and the presence of a signature.
- Catalyst Corporate handles MICR correction – saving staff time and eliminating next-day adjustments.
- Images are available the same day and archived for seven years online.
- Robust credit union reporting reflects deposit detail by business location, including links to images.
- Risk mitigation is flexible, allowing credit unions to set parameters during implementation for a range of variables, such as item review and dollar amount, and to update them at any time.
- Implementation and support for the credit union are provided by a team of experts who are available for extended hours.
- The Image Deposit Return Service, which is available to complement all Catalyst Corporate remote deposit channels, provides return images, online reports and high-dollar notifications with an option for automatic redeposit.
- Credit unions can add Early Warning™ Deposit Chek® to reduce fraud.