Farmers National Bank Converts to Electronic Delivery with VSoft's Check 21 Solution
ATLANTA -- VSoft Corporation, a global information and technology provider of process-improvement tools for financial institutions, announced that Farmers National Bank of Canfield, Ohio has selected VSoft's Check 21 solution to facilitate image capture and remote delivery of deposits throughout the bank's 17 branches. Farmers National Bank, an independent bank with $820 million in assets, selected VSoft's Check 21 solution to increase operational efficiency, reduce security risks, improve customer service and simplify daily transactions with the Federal Reserve Bank. Currently, 250 sites and more than 1,700 financial institutions use VSoft's imaging solutions.
"The biggest clincher in choosing VSoft was their flexibility in working with us," said Don Lukas, senior vice president of bank systems at Farmers National Bank. "Switching to Check 21 was the best thing that Farmers National Bank has done. The burden of back room research and lookup time was significantly reduced to a matter of minutes instead of days or even weeks. VSoft solutions have proven their value time and time again."
Using VSoft's Check 21 software to capture check images, financial institutions can detect fraud earlier, lower transportation costs and reduce processing time, while providing more options for check clearing, account research and faster access to funds. The software also simplified Farmers National Bank's daily transactions with the Federal Reserve Bank by eliminating reliance on readers/sorters to process and encode checks. This decreased dependence on transportation and sorting equipment provides faster check clearing and greater access to funds.
"The Check 21 Act continues to prove its worth, as financial institutions are constantly discovering new benefits to image capture and remote delivery," said Murthy Veeraghanta, president, VSoft Corporation. "VSoft's Check 21 software enhances those benefits and allows financial institutions to derive optimum value from the legislation."
About Farmers National Bank
With more than 100 years as an independent bank, Farmers National Bank provides a wide range of banking and investment services to companies and individuals across three counties in central Ohio. Headquartered in Canfield, the bank operates 17 branches and has grown to over $820 million in assets. For more information, please visit the FNB Website at www.fnbcanfield.com.
About VSoft Corporation
A global information and technology provider of process improvement tools for financial institutions, Atlanta-based VSoft Corporation has been offering scaleable, flexible solutions since its inception in 1996. Led by industry experts with proven track records in excellence, VSoft Corporation is proud of its ability to provide technology designed for easy implementation and migration from the proprietary banking systems of the past. VSoft's experienced systems integration teams ensure that every customer is met with VSoft Advantage. VSoft Corporation has multiple products, services and support that cover back office, operations, lockbox processing, Check 21 legislation, and retail functions. These solutions are designed to maximize core efficiencies, while reducing operational costs. More information about the company can be found at www.vsoftcorp.com.
"The biggest clincher in choosing VSoft was their flexibility in working with us," said Don Lukas, senior vice president of bank systems at Farmers National Bank. "Switching to Check 21 was the best thing that Farmers National Bank has done. The burden of back room research and lookup time was significantly reduced to a matter of minutes instead of days or even weeks. VSoft solutions have proven their value time and time again."
Using VSoft's Check 21 software to capture check images, financial institutions can detect fraud earlier, lower transportation costs and reduce processing time, while providing more options for check clearing, account research and faster access to funds. The software also simplified Farmers National Bank's daily transactions with the Federal Reserve Bank by eliminating reliance on readers/sorters to process and encode checks. This decreased dependence on transportation and sorting equipment provides faster check clearing and greater access to funds.
"The Check 21 Act continues to prove its worth, as financial institutions are constantly discovering new benefits to image capture and remote delivery," said Murthy Veeraghanta, president, VSoft Corporation. "VSoft's Check 21 software enhances those benefits and allows financial institutions to derive optimum value from the legislation."
About Farmers National Bank
With more than 100 years as an independent bank, Farmers National Bank provides a wide range of banking and investment services to companies and individuals across three counties in central Ohio. Headquartered in Canfield, the bank operates 17 branches and has grown to over $820 million in assets. For more information, please visit the FNB Website at www.fnbcanfield.com.
About VSoft Corporation
A global information and technology provider of process improvement tools for financial institutions, Atlanta-based VSoft Corporation has been offering scaleable, flexible solutions since its inception in 1996. Led by industry experts with proven track records in excellence, VSoft Corporation is proud of its ability to provide technology designed for easy implementation and migration from the proprietary banking systems of the past. VSoft's experienced systems integration teams ensure that every customer is met with VSoft Advantage. VSoft Corporation has multiple products, services and support that cover back office, operations, lockbox processing, Check 21 legislation, and retail functions. These solutions are designed to maximize core efficiencies, while reducing operational costs. More information about the company can be found at www.vsoftcorp.com.
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