|
 |
|
|
|
|
|
|
Southwest Corporate Federal Credit Union Selects
Rosetta Technologies to Provide Cost-Effective IRD Printing Solution for Member Credit Unions
- IRD Express Pack delivers pre-packaged distributed IRD printing solution for credit unions -
Tampa, FL - July 15, 2009
Rosetta Technologies, a leading provider of MICR printers and IRD and check printing software solutions, announced today that Southwest Corporate Federal Credit Union, one of the industry’s largest credit union service providers, has chosen Rosetta Technologies to offer its IRD Express Pack to credit unions using Southwest Corporate’s deposit return solution. The IRD Express Pack is an off-the-shelf solution including MICR IRD printer, software, and consumables—everything a member credit union needs to quickly and easily begin printing return-IRDs locally using Southwest Corporate’s check image exchange system.
Financial institutions developed the ability to exchange checks via transmitted images instead of physically presenting original hardcopy items following the passage of Check 21 legislation in 2004 that authorized the used of substitute checks (IRDs). More than four years later, however, many institutions are still processing and exchanging certain items internally as paper, rather than images. With Rosetta Technologies’ IRD Express Pack, Southwest Corporate’s member credit unions have the option to receive an electronic return IRD print file and print IRDs on site and on demand. This cuts operational costs by eliminating handling of incoming paper returns, reducing courier costs and allows credit unions to receive items within hours instead of days.
“As the first credit union servicer to offer this type of product, Southwest Corporate is pioneering the way for their members to benefit from the advances that Check 21 has provided to the financial industry,” said Rob Hullar, president, Rosetta Technologies. “They keenly recognize that, while many institutions cannot justify internal deployment of a Check 21 platform, they can still automate certain aspects of their check processing, such as IRD printing.”
“With the planned consolidation of the Federal Reserve’s check processing sites to one location, there will be delays in receiving return items,” said Bill Brennan, director of Item Processing for Southwest Corporate. “Through our arrangement with Rosetta Technologies, credit unions can access lower-cost technology that can eliminate return IRD delays. Credit unions will be able to connect directly to Southwest Corporate to quickly begin printing return-IRDs in-house.”
About Southwest Corporate Federal Credit Union
Southwest Corporate Federal Credit Union is a $9 billion Plano, Texas-based institution that serves nearly 1,500 member credit unions nationwide. Southwest Corporate’s broad financial service portfolio includes item processing and remote deposit services, investment services, ACH origination and electronic bill payment, ALM services and advisory service through its subsidiary, Southwest Corporate Investment Services. For more information, visit www.swcorp.org.
About Rosetta Technologies
Founded in 1987, Rosetta Technologies is dedicated to developing and marketing the world's most technically advanced printers, consumables, and software for magnetic ink character recognition (MICR) applications. As Ricoh's exclusive MICR engineering partner, Rosetta offers the industry's widest range of MICR printers and consumables, from compact desktop to high-speed cut-sheet production printers, plus post-processing equipment, supplies, and 24x7 support. The company also offers comprehensive software packages for IRD and check printing. Located in Tampa FL, Rosetta is a standing member of the American National Standards X9 committee. For more information, visit www.rosettatechnologies.com.
|
|
|
