eDeposit

EasCorp's eDeposit is a remote-capture program enabling credit unions to capture transit checks electronically and transmit them from branch locations.   Capturing transit items electronically enables credit unions to replace the traditional paper-based check collection process with an efficient method that takes advantage of the potential offered by the Check Clearing for the 21st Century Act (Check 21).   eDeposit provides many excellent benefits, including:

Improved availability and reduced risk
Credit unions typically receive immediate availability on 100 percent of their funds.   Because each deposit is credited to their Overnight Share Account at EasCorp, dividends begin to accrue immediately.   Out-of-district items are presented faster; returned-item notices are received earlier, so you can take action more quickly.

Reduced transportation costs and increased flexibility
Electronic transmission of items also means lower transportation costs.   eDeposit offers the flexibility to centralize items at one site or process them at each branch.

Exclusive services
Through our On-We program, checks drawn on other credit unions that use EasCorp’s share draft processing service receive discounted pricing.   This represents a sizeable opportunity to EasCorp’s eDeposit users in New England because we provide share draft service to nearly 200 credit unions in the region.   What’s more, if those checks are presented to us by 2 p.m., credit unions receive same-day credit for them.

Features:

Built-in amount recognition, image quality and usability analysis software
Courtesy and legal amount recognition (CAR/LAR) software detects the amount written on the check.   If an amount can be determined, eDeposit automatically updates the amount, eliminating the need to hand-key.   Image quality analysis software enables credit unions to know that their check images conform to Federal Reserve standards before transmitting the file to EasCorp.   Optional usability tests can be run to analyze key components including signature, payee, and date fields.

Built-in reporting and audit-trail tracking
Credit unions can quickly run recap and detail reports.   Ease-Link’s reporting features provide simple tools for balancing your program.   For audit purposes, all modifications are logged in eDeposit and stored in detailed archival reports.

Convenient check research View your check images directly through eDeposit.   The archive feature makes it easy to export items for local network storage or to archive offline to CD or DVD.   90 days of transit activity can be viewed online through Ease-Link.

System Requirements:
The only requirements for eDeposit are:

• 1.8 GHz Pentium III Processor
• Microsoft .NET Framework V2.0
• Windows 2000 Professional (SP4) or greater or Windows XP Professional (SP2)
• 1GB RAM
• USB 2.0 Port

Security:
eDeposit leverages Ease-Link, our secure communication and data-transfer system for transmitting image cash letter (ICL) files that uses digital certificate and secure socket layer (SSL) encryption technologies.   eDeposit functionality is permission-based, so you can decide who has access.

Ease of Use:
EasCorp offers top-notch eDeposit training, with support from installation to implementation and beyond.   The eDeposit help file is user-friendly, with illustrative screen shots that make eDeposit easy to use, thus reducing your training time.