Checkmation SOAR® & Prism® for Credit Unions
Checkmation® is a company dedicated to the cause of expediting financial
information exchange, improving the capabilities of financial management software
and converting the paper payment mediums of the last generation into viable, actionable
data that can be transferred electronically. Our solutions strive to convert checks
into images and data at the first possible juncture, ending their necessary involvement
in processing, and eliminating the cost of storing and transporting them. Our process
emulates the familiar aspects of the tasks Credit Union employees already perform,
making the transition virtually seamless. This outlook allows Credit Unions to advance
their processes in an intuitive, practical way.
The Future is Here. Are You Ready for It?
Checkmation SOAR® Secure Online Automatic Routing (SOAR) drastically reduces the
time it takes to process check batches. This Solution Milestone will allow scanning
of 50 checks in less than a minute. Verification and conversion to images and data
takes less than five minutes.
Checkmation SOAR® can also be customized to automatically post to accounting
and archiving programs, saving on labor costs.
Checkmation SOAR® offers its users a high percentage of same day cash
availability, faster clearing, faster processing, reduced recording costs and elimination
of check transportation costs. Moreover,
Checkmation SOAR® customers can
save on third party financial institution fees.
Checkmation Prism® is our check image processing
and remote forwarding
and return solution for credit unions. With
Checkmation Prism®, financial
institutions can reduce in-house processing labor and third party bank fees, as
well as check storage/transportation costs.
Checkmation Prism® allows financial institutions to submit and receive
check images and data. It is designed to work with any image enabled bank (including
Federal Reserve banks) and is programmed to automatically format check images into
image enabled paying banks' standards.
Checkmation Prism® enables financial institutions to print valid IRDs
(Image Replacement Documents / Substitute Checks) when they must reconvert received,
returned or archived check images and data.
Checkmation Prism® allows
financial institutions to maintain relationships with image and non-image customers
and associated financial institutions alike.
A Typical Checkmation® Credit Union Installation: