World's Largest Credit Union Selects WAUSAU Financial Systems' End-to-End Deposit Automation Solution To Streamline Processing At Branches Around The Globe

WAUSAU Financial Systems (WFS), the industry leader in distributed payment and document processing, announced recently that Navy Federal Credit Union, the largest credit union in the world, has named WAUSAU Financial Systems its remote capture solutions provider, and is utilizing WFS' web-based branch capture application for capture, balance and review of all back counter check images. Over 3 million members and 150 worldwide branch offices strong, Navy Federal continues to expand its presence, serving all branches of the armed forces, including all active duty, retired and reserve Navy, Marine Corps, Army, Air Force and all Department of Defense (DOD) civilian personnel and their families.

Navy Federal Credit Union has engaged WFS to install its web-based branch capture as an end-to-end solution, capturing check images and performing centralized balancing and image quality review at their headquarters in Vienna, Virginia. The credit union's cash letter deposits from branch offices around the world will be eliminated and control over forwarding for payment will be centralized.

Before deciding to partner with WFS, the credit union went through an extensive selection process, wherein multiple solution providers participated in a proof of concept. Concentration was given to functionality and performance. "We were looking for a payments technology provider that could not only support our 24 x 7 operations, but offer a seamless hands-free deployment for each future location," states Michael Lamont, Senior Financial Analyst, Navy Federal Credit Union. "WAUSAU Financial Systems' web-based platform delivers leading-edge technology that will simplify the logistics of opening new branches and eliminate the need to settle physical items worldwide. We found the WFS solution to be functionally comprehensive while providing excellent system performance."

"Navy Federal Credit Union has a reputation for excellence in all they do and WFS is honored to be able to add them to our list of customers," stated Steve Buchberger, Sr. Vice President, Solution Management for WAUSAU Financial Systems. "They needed a solution that was easy to deploy, learn and use, as well as one that also offered high performance across various bandwidth connections in many different countries. As the credit union continues to grow their worldwide member base, we are pleased to assist and proud to share in Navy Federal's service to the men and women of the United States Military."

WFS' solution uses advanced image capture functionality, configurable business rules, client and central duplicate detection and intelligent character recognition to automatically capture and balance deposits. Its best-in-class, integrated web-based training assists Navy Federal associates in quickly learning the application to take immediate advantage of the solution-provided benefits and efficiencies. The platform, as a whole, offers Navy Federal Credit Union numerous benefits, including efficiencies in presentment of items for payment, transportation, fraud mitigation, float time, member service and per item cost.

"Navy Federal is committed to providing service excellence to all our members, including the unique needs of our military families." comments Lamont. "The WFS web-based branch capture technology will assist us in efficiently serving our worldwide membership."

About Navy Federal Credit Union
Navy Federal Credit Union is the world's largest credit union with over $35B in assets, over 3 million members, 150 branch offices, 40,000 ATMs and more than 7,500 employees world-wide. The credit union serves all Department of Defense (DOD) military and civilian personnel and their families. For additional information about Navy Federal, visit www.navyfederal.org.

About WAUSAU Financial Systems
WAUSAU Financial Systems is a premier provider of payment and remittance processing solutions, serving businesses of all types to develop strategies that move money faster. With its products, services and consulting, WAUSAU Financial Systems works with customers to speed check processing, electronic presentment, ACH payments, transaction processing, distributed capture and enterprise content management. WAUSAU Financial Systems' innovative solutions provide results for a wide range of organizations, including financial institutions, insurance companies, utilities, retail businesses and governmental agencies. Find more information about WAUSAU Financial Systems at www.wausaufs.com.

SOURCE: WAUSAU Financial Systems