Top Financial Institution Reinvents Lockbox and Deposit/Payment Capture Strategy with Key WAUSAU Software Offerings
MOSINEE — WAUSAU, the industry leader in distributed payment and document processing, announced today that First National Bank of Omaha (FNBO), a division of First National of Nebraska, an $18 billion bank holding company headquartered in Omaha, Neb., has chosen WAUSAU as its key solutions provider for industry-leading lockbox, remote capture and branch capture solutions. FNBO, the 15th largest retail lockbox processor, has selected WAUSAU’s ImageRPS solution to replace a competitor’s solution in its lockbox processing center. After reviewing the breadth of WAUSAU solutions, an extensive evaluation was also made to enhance FNBO’s remote capture offerings with the use of WAUSAU’s Remote Corporate Capture and Branch Capture applications.
“FNBO is committed to delivering transaction processing solutions for our customers that increase the speed of their money movement, whether that be through our world-class lockbox processing operation, through our capture capabilities for our corporate customers or in our branches,” said Russ Oatman, Senior Vice President of the Financial Institutions Group at FNBO. “We are very pleased to work with WAUSAU to implement these innovative solutions that will both enhance our processing speed and deliver operational efficiencies for our organization.”
FNBO is a significant remittance processor in the Midwest, delivering retail and wholesale lockbox solutions through its Omaha-based processing center. WAUSAU’s ImageRPS retail and wholesale solutions, which FNBO will implement, offer advanced transaction technology that is flexible and scalable for the customer, whether an organization receives recurring business or personal checks, partial or full remittance payments, or single check or full-page transactions. WAUSAU customers continue to lead the industry in Accounts Receivable Conversion (ARC) generation, processing 35 percent of the 2.2 billion ARC transactions generated in 2006.
“WAUSAU is the industry’s leading solution provider in ARC, with our ImageRPS solutions processing more than one-third of ARC conversions annually,” said Nancy Langer, President — Enterprise Financial Solutions for WAUSAU. “With FNBO’s recognized lockbox processing operation, the implementation of our ImageRPS retail and wholesale solutions will provide state-of-the-art functionality for its lockbox customers, allowing them to speed their money movement through both ARC and Image Exchange.”
FNBO will also implement WAUSAU’s industry-leading web-based Remote Corporate Capture (WebDDL) and Branch Capture (ImageBranch) technology across the organization.
WAUSAU was named “Best of Breed” among Remote Corporate Capture solutions reviewed by Boston-based Celent in the respected analyst firm’s “Remote Deposit Capture Vendors: Crossing the Chasm” report published in July, 2006. Based on advanced technology and breadth of features categories, WAUSAU was cited as the overall performance leader.
WAUSAU’s industry-leading Remote Corporate Capture suite includes Web-based, PC-based, lockbox and ASP options. The WAUSAU Remote Corporate Capture solution captures deposits and payments at remote locations and accomplishes complete image processing of each item. The solution then electronically transmits balanced and proven images to the client’s depository bank for final electronic clearing.
In reviewing WAUSAU’s ImageBranch technology, Celent cited its broad client-side functionality on both Windows and Smart clients, its significant branch-level configuration capabilities and its demonstrable teller capture scalability.
“WAUSAU’s remote capture technology is recognized as the industry leader for both the advanced features and breadth of functionality we offer to our clients,” Langer said. “FNBO will be positioned to offer its customers cutting-edge remote capture solutions for both deposits and payments, including within its recognized lockbox processing operation.”
