GLASTONBURY, Conn. – imagic says its item capture and imaging systems are now compatible with the FedImage platform used by the Federal Reserve. Credit unions who use imagic for check imaging now can receive early morning posting files of their in-clearings, which likewise can be transmitted to the Fed early in the day, eliminating the use of couriers that can hold up processing. Clients of imagic, a subsidiary of Open Solutions Inc., also can make the images available to their members. "We pursued this relationship with the Federal Reserve to leverage their technology and to offer our clients superior products and services. In anticipation of the Check Truncation Act (Check 21) passing, banks and credit unions using our software will be in full compliance with Check 21," said Kevin Fahey, senior vice president and group manager for imagic.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
