Open Solutions to Offer No-Envelope ATM Check Deposits
through New Partnership with Ensenta
through New Partnership with Ensenta
March 14, 2011
Open Solutions Inc.®, a leading provider of integrated enabling technologies for financial service providers across the United States, Canada and other international markets, and Ensenta, a leader in Check 21 and self-service technologies, have entered into a partnership to provide Open Solutions' clients with envelope-less ATM check deposits via Ensenta's Check 21 ATM solution.
The new partnership allows Open Solutions' clients to provide their customers and members with greater convenience and faster funds-availability while reducing risk and cost for the institution. Institution customers and members can feed their checks directly into an image enabled ATM without the need for a check envelope. Once a transaction is authorized by the network, the check image is sent to Ensenta's Data Center where it is evaluated against the institution's custom risk policies for any one of over 100 image quality and risk factors. After institution staff review and correct any flagged items through Ensenta's EZAdmin web portal, an image cash letter is created and sent for clearing to virtually any endpoint, including Open's distributed capture hub, ISCheck. The whole process is conducted electronically for significant cost and time savings.
According to Dave Reim, Open Solutions' Imaging Solutions Product Manager, "Check 21 ATM is a win-win for financial institutions and their customers. Customers and members enjoy the convenience of no-envelope deposits while banks and credit unions eliminate the costs associated with encoding, couriers, and onsite image servers. Plus, Ensenta's state of the art agile risk management tools allow our clients to drastically reduce fraud, something that benefits everyone."
"We are very pleased to be partnering with Open Solutions to offer Check 21 ATM," stated Ed Viera, president and co-founder of Ensenta, "This innovative solution allows Open Solutions' clients to push capture out to a whole new frontier - the ATM - in order to experience the convenience, productivity, and cost benefits many have already realized with branch, teller, and merchant capture. Open Solutions' clients will be able to immediately view deposited images online and make adjustments or corrections before the image cash letter is automatically sent to their image clearing software suite, such as ISCheck. We're glad to be a part of the Open Solutions community!"
About Ensenta
Ensenta makes image deposits simple. Ensenta's web-based EZAdmin "back-office" provides over 190 financial institutions with a simple set of online processes to remotely capture, review and adjust check deposits and to create and send image cash letters to their item processors. Ensenta's EZ Admin supports multiple deposit capture devices including 2,500 ATMs and Kiosks, as well as thousands of branch, consumer, business and mobile phone scanning devices. Ensenta's Software-as-a-Service platform features a highly sophisticated Agile Risk Management engine where financial institutions can create their own custom risk policies. Ensenta is headquartered in Redwood Shores, CA.
For more information about Ensenta and Agile Risk Management visit Ensenta at www.ensenta.com/arm.
Open Solutions Inc.
Open Solutions Inc. offers a fully-featured strategic information management product platform that integrates core processing applications built on a single centralized Oracle relational database, with internet banking, cash management, CRM/business intelligence, financial accounting and management tools, profitability tools, wealth management, imaging, digital documents, interactive voice response, technology services, HSAs, payments and loan origination solutions. Open Solutions' full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally to better compete in today's aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.
For more information about Open Solutions, visit Open Solutions at www.opensolutions.com.
Open Solutions Inc. is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2010 Open Solutions Inc. All rights reserved.
The new partnership allows Open Solutions' clients to provide their customers and members with greater convenience and faster funds-availability while reducing risk and cost for the institution. Institution customers and members can feed their checks directly into an image enabled ATM without the need for a check envelope. Once a transaction is authorized by the network, the check image is sent to Ensenta's Data Center where it is evaluated against the institution's custom risk policies for any one of over 100 image quality and risk factors. After institution staff review and correct any flagged items through Ensenta's EZAdmin web portal, an image cash letter is created and sent for clearing to virtually any endpoint, including Open's distributed capture hub, ISCheck. The whole process is conducted electronically for significant cost and time savings.
According to Dave Reim, Open Solutions' Imaging Solutions Product Manager, "Check 21 ATM is a win-win for financial institutions and their customers. Customers and members enjoy the convenience of no-envelope deposits while banks and credit unions eliminate the costs associated with encoding, couriers, and onsite image servers. Plus, Ensenta's state of the art agile risk management tools allow our clients to drastically reduce fraud, something that benefits everyone."
"We are very pleased to be partnering with Open Solutions to offer Check 21 ATM," stated Ed Viera, president and co-founder of Ensenta, "This innovative solution allows Open Solutions' clients to push capture out to a whole new frontier - the ATM - in order to experience the convenience, productivity, and cost benefits many have already realized with branch, teller, and merchant capture. Open Solutions' clients will be able to immediately view deposited images online and make adjustments or corrections before the image cash letter is automatically sent to their image clearing software suite, such as ISCheck. We're glad to be a part of the Open Solutions community!"
About Ensenta
Ensenta makes image deposits simple. Ensenta's web-based EZAdmin "back-office" provides over 190 financial institutions with a simple set of online processes to remotely capture, review and adjust check deposits and to create and send image cash letters to their item processors. Ensenta's EZ Admin supports multiple deposit capture devices including 2,500 ATMs and Kiosks, as well as thousands of branch, consumer, business and mobile phone scanning devices. Ensenta's Software-as-a-Service platform features a highly sophisticated Agile Risk Management engine where financial institutions can create their own custom risk policies. Ensenta is headquartered in Redwood Shores, CA.
For more information about Ensenta and Agile Risk Management visit Ensenta at www.ensenta.com/arm.
Open Solutions Inc.
Open Solutions Inc. offers a fully-featured strategic information management product platform that integrates core processing applications built on a single centralized Oracle relational database, with internet banking, cash management, CRM/business intelligence, financial accounting and management tools, profitability tools, wealth management, imaging, digital documents, interactive voice response, technology services, HSAs, payments and loan origination solutions. Open Solutions' full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally to better compete in today's aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.
For more information about Open Solutions, visit Open Solutions at www.opensolutions.com.
Open Solutions Inc. is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2010 Open Solutions Inc. All rights reserved.