Wycom Launches WyTeller21 for Check 21 Processing
December 8, 2009 – Wycom Systems (www.wycomsystems.com), a leading provider of solutions that improve check, receipt and document processes, has launched WyTeller21 for Check 21 processing. WyTeller21 enables credit unions to take advantage of the many benefits afforded by Check 21, including significantly reduced costs and greater staff efficiency.
“Wycom solutions have helped credit unions reduce the cost and improve the efficiency of handling checks, receipts and documents for over two decades,” says Perry Kohne, Wycom Systems President. “Our new WyTeller21 continues that tradition with a streamlined, turnkey solution that supports complete electronic check processing.”
WyTeller21 interfaces with the credit union’s transaction processing system to scan incoming checks, and then populates the processing system’s member service screens automatically with the necessary check data. The solution automatically confirms check totals, creates an electronic cash letter at day’s end, and forwards check images to the Fed or other check processor daily. By enabling credit unions to process checks electronically in accordance with Check 21, WyTeller21 eliminates the high costs of transporting paper checks by courier, allows for faster funds availability, eliminates the need for MICR encoding and proofing equipment, and frees staff to focus attention on member service.
WyTeller21 supports check capture directly at the teller line via an easy-to-use interface and small-footprint scanners, and in the back-office in a batch mode using high-speed multi-pass scanners. When used at the teller line, it eliminates time-consuming and error-prone duplicate entry of check data, makes check images immediately available, and self-balances continually to speed and simplify day-end closing processes.
WyTeller21 can even reduce costs for credit unions already using a Check 21 solution, by enabling them to capitalize on the lower per-item processing fees available via the Fed.
The robust back-office engine that powers WyTeller21 is provided by C&A Associates, a leader in remote item processing for credit unions and banks nationwide since 1979. Hundreds of financial institutions already rely on C&A Associates’ software solutions to send and receive image cash letters and to transmit return item cash letters.
Wycom currently serves more than 1,000 credit unions, providing solutions for secure, streamlined check signing and printing, receipt generation and archiving, and document generation and archiving through integration with their transaction processing systems.
About Wycom Systems
Wycom Systems is a leading provider of solutions that improve check, receipt and document processing for credit unions and accounts payable departments in industries across the board, serving over 8,000 customers at over 14,000 sites. Wycom products include WyChecks and Premier for secure check signing, printing and archiving, WyReceipts for receipt generation and archiving, WyDocs for document generation and archiving, and WyTeller21 for electronic check processing. Wycom delivers its solutions through a direct sales force and through strategic alliances with system integrators in the U.S., Canada and South America. Visit Wycom on the web at www.wycomsystems.com or call 1-800-869-0236.