Susquehanna Bank Implements Mobile Remote Deposit Capture from WAUSAU Financial Systems
$18 Billion Financial Institution to Leverage Risk Assessment with RDC Solutions
MOSINEE, Wis., March 20, 2013 /PRNewswire/ — Susquehanna Bank, serving the Mid-Atlantic region, has implemented WAUSAU Financial Systems‘ mobile remote deposit capture (RDC) solution from its Deposit 24/7 Suite(TM). The new application allows consumer and business customers to remotely deposit paper checks using an iPhone®, iPad®, Android(TM) or BlackBerry®.
The mobile deposit app has received a strong reception from customers during the first month of its launch. Susquehanna has also chosen WAUSAU’s Merchant RDC offering as a replacement to its existing solution, and will transfer its merchant RDC customers this year.
According to a recent Javelin study, one in four consumers has deposited a check using mobile RDC in the past 90 days, proving the demand for mobile RDC. In 2012, Susquehanna incorporated mobile RDC into its mobile product roadmap as a foundational component to enable its mobile banking future. Partnering with WAUSAU Financial Systems will enhance its technology capabilities, while improving customer service.
“Susquehanna’s regional structure allows us to operate and interact with our customers more as a community bank,” said Melissa Hoffman, senior vice president and director, Product Support and Service Delivery, Susquehanna Bank. “When developing the mobile deposit solution, we held various focus groups with our customers to ensure our solution fit their lifestyles. Partnering with WAUSAU provides our customers a solution that meets their needs while being extremely user-friendly. “
Acknowledging the need for security, the bank chose WAUSAU Financial Systems for its risk assessment capabilities, including day-zero risk analysis built within its software. Risk assessment and management functionality also are among the key features of its new merchant RDC solution, which the bank can deploy remotely.
“Susquehanna’s customer-first approach and thoroughness in perfecting the solution before deployment is commendable. We are excited to deliver them the most holistic and efficient way to package risk monitoring across RDC to protect both customers and themselves from legal and compliance risks,” said Kathy Strasser, executive vice president of solution management for WAUSAU Financial Systems. “Further, the ability to remotely deploy the solution reduces the headaches often associated with transitioning hundreds of merchant customers to a new platform.”
In addition to mobile banking and mobile deposit, the bank plans to roll out other functionality including mobile bill pay, person-to-person payments and actionable alerts, including low-funds alerts.
WAUSAU Financial Systems, Susquehanna Bank, Eastern Bank and Mitek Systems will lead a RemoteDepositCapture.com webinar titled, “The Big Bang: Explosive mRDC Success for Early Adopters” on April 4, 2013, at 2 p.m. ET. Register here.
About WAUSAU Financial Systems
WAUSAU Financial Systems is a premier provider of payment and receivables processing solutions, helping businesses of all types move money faster. With its products, services and consulting, WAUSAU works with customers to speed check processing, electronic presentment, ACH payments, transaction processing, distributed capture and enterprise content management. WAUSAU holds the No. 1 market share position in retail and wholesale remittance processing solutions. WAUSAU processes more than $1 trillion in payments each year through its work with more than 650 organizations, and maintains more than 30 percent of all U.S. lockbox volume. The company works with 13 of the 25 largest financial institutions, 42 percent of insurance companies with more than 5 million customers and 24 percent of utilities with more than 100,000 customers. More than 200 financial institutions use WAUSAU’s remote deposit capture service, and industry consultants Celent and Aite have ranked WAUSAU’s remote capture functionality above all competitors.
About Susquehanna Bank
Susquehanna Bank provides banking and financial services at 261 branch locations in the mid-Atlantic region. It is a subsidiary of Susquehanna Bancshares, Inc., a financial services holding company with assets of more than $18 billion and 3,400 employees. Through Susquehanna Wealth Management, the holding company offers investment, fiduciary, brokerage, insurance, retirement planning, and private banking services, with approximately $7.6 billion in assets under management and administration. Susquehanna also operates an insurance brokerage and employee benefits company, a commercial finance company and a vehicle leasing company. For more information, please visit www.susquehanna.net.
SOURCE WAUSAU Financial Systems