More than 23 million transactions were processed in July and August by the remote deposit capture operation at Jack Henry & Associates, the company said, the most it's recorded for a two-month period.
The Monett, Mo., company said its RDC solution-sold to credit unions through its Symitar division and other businesses through Jack Henry Banking and ProfitStars-now supports more than 22,000 merchants and 85,000 merchant locations.
The 11.4 million transactions processed in July and 11.7 million in August represented more than $18 billion, the company said. A single-day record was set on Aug. 3, when about 875,000 transactions worth more than $800 million were processed.
“We believe the record-setting transaction volumes demonstrate the growing demand for remote deposit capture and the growing acceptance of electronic transactions among diverse merchants and businesses,” said David Foss, president of ProfitStars.
CUs Sign Up for Passageways Portals
Five more financial institutions, including two credit unions, have signed up as new users of portal solutions from Passageways LLC in the past eight weeks, the company said.
They are $404 million First Community FCU of Parchment, Mich., and $736 million Fox Communities CU of Appleton, Wis., and join the list of about 200 credit unions and banks using the CUSO's 25 software applications, the company said.
Fifteen existing clients, including 14 credit unions, have bought the company's newest portal application, a vendor management module, Passageways said.
Passageways is based in West Lafayette, Ind., and was launched in 2003 as a CUSO of Purdue Employees FCU.
Wescom Resources Group Reports 50% Uptick in Bill Pay Usage
Wescom Resources Group said it has seen a more than 50% increase in use of its bill pay solution in the past year.
The tech CUSO of $3.1 billion Wescom Credit Union said 29 credit unions now use its MemberEdge Bill Pay service and that monthly volume now exceeds 500,000 payments on average.
The CUSO cites its member-marketing work with credit union clients and establishing electronic relationships “with local high-volume billers that may get passed over by national providers” for the growth.
Tim Dolan, WRG president, added, “Our cooperative credit union model enables us to offer some of the lowest bill pay pricing plans in the industry. With today's tight economy, this has been a big factor in helping us win several large contracts recently. Plus, we've built a critical mass that is getting the attention of large payees and providers.”
Recent enhancements to MemberEdge Bill Pay include a “least-cost routing system,” the company said.
“WRG's electronic bill pay service has enabled us to aggressively grow this channel across our member base with little concern for the back-end costs,” said Jay Reed, vice president of information systems at $147 million Service 1st Federal Credit Union in Danville, Pa.
WRG said it now has more than 240 credit union client using bill pay, online banking, remote deposit, alerts, multi-factor, ACH and other solutions.
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