Deposit Express - Your Branch Image Capture and Electronic Presentment Solution
Deposit Express is CenCorp’s solution for the image capture and electronic presentment of deposited checks. CenCorp offers two approaches to Deposit Express. The first is a comprehensive or turnkey solution that includes the hardware and software you would need to capture check images and transmit them electronically for presentment. The second solution, direct presentment, allows you to use your existing capture equipment or software and directly send an electronic image file for processing. Both approaches offer these advantages:
- 100% next day availability. 100% of your nightly deposit is available in your CenCorp Hi-Yield account the following business day where it is earning rates comparable to Fed Funds.
- Elimination of encoding, microfilming and transporting checks. Encoding and microfilming of checks is eliminated, replaced by the electronic image capture. Access to captured images is available online as well as local storage and the ability to burn image CDs. You will no longer need to courier items on a daily basis. Stop holding deposits overnight due to operational constraints or courier availability.
- Competitive pricing. You will find that Deposit Express pricing is competitive with other providers. CenCorp has prepared an Excel spreadsheet, available through EDGE On-line, that allows you to customize an analysis to determine if Deposit Express is cost effective for you.
- Convenient Settlement. CenCorp’s Hi-Yield account gives you an easy and convenient way to settle overnight liquidity through a single account. This eliminates the need to monitor a separate correspondent banking account or sweep funds from a lower interest bearing account to a higher yielding account.
- Easy Balancing. EDGE On-line access is available to view your Hi-Yield account and verify daily balances. Like our CheckMate program, CenCorp handles all your Deposit Express adjustments.
- Implementation, training and support. CenCorp provides you with training. CenCorp staff is available to answer your questions, troubleshoot issues, and provide on-going support.
- Distinctive Features. There are no bottlenecks with Deposit Express’s off station
or remote balancing feature. You can continue to image items while balancing or
repairing a previously imaged batch of checks at a second workstation. This
leaves the scanning workstation open to image checks. Deposit Express supports
a variety of check scanners which allows a better match to your processing needs.
Over-the-counter items or your members’ share drafts processed at the teller
window can be imaged and transmitted for inclusion in CenCorp’s image archive.
Your images are then available for viewing through EDGE On-line or home banking. Also use Deposit Express to image other items such as foreign drafts and savings bonds for record retention purposes.
If you have any questions or would like us to prepare an analysis for you, please contact your Business Development Representative at (888) 236-2677 or marketing@cencorpcu.com.