BILOXI, Miss. -- Keesler Federal Credit Union will soon be using an automated system for launching the process of a wire transfer from the teller line through the core processing system.
California-based consultancy CUTEK (www.cutek.net) developed the solution to electronically fill out wire forms while also checking the recipient against OFAC lists. It integrates with the credit union's Symitar Episys core platform to forward the data from teller to manager to accounting department.
"You just fill out the form and submit to the host and basically the rest is electronic," says Michelle Rimes, programming manager at $1.5 billion Keesler FCU (www.kfcu.org).
"This speeds things up and is more efficient, as the funds are electronically transferred. The wire transfer fees are automatically processed in the background, no more manual GL to GL transactions. It also does an ABA lookup," she says.
CUTEK says the system should be live by Feb. 1.
