Cash Vault Processing
Improve efficiencies and lower expenses
Software Earnings solutions enable banks to match equipment with solutions and provide full-capacity processing, helping banks to keep up with growth for years to come. Since 1988, Software Earnings has continued to deliver reliable, high performance payments processing solutions. Software Earnings offers financial institutions a complete, end-to-end payments processing solution, Payments Navigator.
To save money on the rising costs of transporting payments, financial institutions need image-enabled cash vault services. Software Earnings’ provides Cash Vault Processing, a hub and spoke model that will reduce overall processing time at cash vault centers. Cash Vault Processing converts a bank’s many cash vault operations into efficient remote deposit capture processing centers.
Cash Vault Processing is able to capture transactions where they enter the bank and is scalable to handle a wide range of volumes. The solution provides keying and balancing at the cash vault locations and processes results in X9 files.
Cash Vault Processing will provide improvements in the LFI’s payments workflow. With full implementation and completed FTE training on the system, operations will exceed established workflow projections. Shared utilization of cash and check operations in one location has already achieved proven results. Cash Vault Processing solution will also provide a much needed defense in the form of emergency disaster recovery. Banks will be able to use their nearest image enabled cash vault as a mini-processor, enabling the bank to maintain service and deliver payments on time.
For banks, the most tangible benefit of moving to an image-enabled cash vault solution will be the elimination of ground transportation between cash vault locations. This will minimize the risk associated with transporting payments and banks will no longer be bound by courier schedules. In production, CVP analysis has shown a proven, processing reduction time of six to ten hours through the use of image capture and clearing at spoke capture sites. Cash Vault Processing will also provide operational flexibility. As banks move more branches to image-based processing, their cash vault centers will be able to keep up with the increased volumes of transactions.