A document management solution developed in house and used for the past 10 years at the $674 million Bay Federal Credit Union in Capitola, Calif., will be sold and offered to other credit unions.
Thuridion of Scotts Valley, Calif., company plans to rename the tool from L1te to Contessa and market the member service solution that Bay Federal said has saved it "seven figures" in software and maintenance costs in the 10 years since it was developed.
The intranet-based solution allows staff in the front and back offices to instantly access any document in a member's file instantly, including system-generated letters and forms and letters sent in by members, the company and credit union said.
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