LOS ANGELES, Oct. 26, 2020 /PRNewswire-PRWeb/
-- CheckAlt, the largest independent provider of lockbox and
item processing in the U.S., is pleased to announce its strategic
alliance with teller and lending workflow solution provider CDP to
streamline deposit processes for financial institutions, first
focusing on the teller deposit experience for credit unions and
their members.
Through this partnership, CDP will utilize CheckAlt's Check 21
deposit solutions to seamlessly deposit checks and post to credit
union cores, customize deposit approval and online decisioning
rules via CheckAlt's CaptureNet Management web portal, and provide
greater fraud protection and verification services to credit unions
by leveraging CheckAlt's risk technology.
"We share mutual clients and have identified that through
partnership we can remove duplicate efforts from operations and
improve the member experience," explained Alex Grabowski, Director of Sales and Customer
Success at CDP. "We deliver modern member communication of teller
line activity, eliminate manual end of day teller tasks, automate
compliance, and reduce the need for expensive scanning equipment
through our joint solution. Our technology partnership enables
credit unions to streamline operations while increasing their
member engagement and interactivity."
CDP's teller product, eTeller, helps send email and text
receipts to credit union members immediately after making a check
or cash deposit, as well as enabling the capture of compliance
information for automated records retention. The initial results of
this partnership have enhanced the teller deposit scan and image
experience, assisting credit unions with realizing operational cost
savings while also providing additional transparency with CDP's
instant deposit receipts.
"Together with CDP, we are providing our credit union clients
with a single workflow that delivers deposit information quickly to
members," said Bobby Rahmanian,
Chief Product and Innovation Officer for CheckAlt. "Our credit
union and bank customers look for providers who can implement
solutions without core impacts. After this initial coupling of
CDP's teller activity technology with CheckAlt's deposit product,
we are already working on additional solutions to deepen the
relationship with CDP."
Learn more about CheckAlt's Check 21 technology at
https://www.checkalt.com/technology/check-21.
Learn more about CDP's eTeller and Compliance Automation
technology at https://www.securecdp.com/e-teller.
About CheckAlt
In the past 10 years, CheckAlt has become the leading provider of
check payment processing solutions for hundreds of financial
institutions across the country. As both bank agnostic and
demographic agnostic, CheckAlt is uniquely positioned for payments
convergence. It has been our focus to process check payments while
also eliminating paper from the system with robust electronic
payment APIs. CheckAlt's solutions include lockbox processing
across a nationwide hub-and-spoke network of processing sites,
consolidated item processing, integrated treasury solutions, and
mobile capture services. CheckAlt is headquartered in Los Angeles, Calif.
About CDP
CDP enables out of branch customer experiences and compliance
automation for hundreds of Credit Unions and Community banks
throughout the US. From lending to account services, we help our
clients digitize documents, automate processes, and simplify
information management for their customers, employees and
regulators. We deliver targeted technology that rapidly enables
digital member experiences and growth. CDP is headquartered in
Detroit, Michigan.
SOURCE CheckAlt