Hundreds of credit unions will have more options exchanging and settling payment items under a new agreement between Viewpointe and VSoft Corp., the companies said.
Atlanta-based VSoft has joined New York-based Viewpointe’s exchange services network, which includes integrated clearing and settlement through the Viewpointe Clearing, Settlement & Association Services.
Viewpointe operates one of 17 regional payments systems and said its national settlement system last year exchanged more than 4.5 billion items worth $5.8 trillion.
“With the Viewpointe deal, VSoft is able to consolidate its clients’ exchange activity through a dedicated channel, thereby eliminating the need to establish a complex structure of partnerships and connections with each individual financial institution,” the companies said in a statement.
VSoft said it now has about 1,900 clients using its imaging and exchange software and services. Viewpointe also has a number of credit union clients.
