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MagTek and IMM Deliver Check 21 Teller Item Capture Solution To Affinity Federal Credit Union

Business Wire, May 5, 2008

Real-Time Check Image Capture Brings Time and Cost Saving Benefits to Affinity Federal Credit Union

CARSON, Calif. -- MagTek, Inc., a global leader in electronic payments technology, and Integrated Media Management (IMM), experts in document output and automation technology, combined their technologies and services to successfully roll out a Check 21 Teller Item Capture Solution at Affinity Federal Credit Union.

When Affinity Credit Union began a search for a Check 21 solution, they were eager to implement early check image capture in order to gain the most benefits and modernize the traditional labor-intensive and costly approach of handling, processing, and transporting paper checks. Affinity opted to select the complete solution offered by MagTek and IMM.

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MagTek's Excella STX, a dual-sided check reader/scanner, is used to read MICR data and capture images of checks presented for deposit at Affinity's teller window. The information is instantly and seamlessly transmitted to IMM's TotaleReceipts with Teller Item Capture which provides capabilities such as embedded signature capture, receipt archival with scanned checks, ID Capture plus all the features and functions of Check 21 which are powered by the VSoft Corporation.

"The benefits are clear; Teller Item Capture eliminates the need and cost of transporting paper checks between branches and the FRB or other endpoints. It also solves the problem of checks lost in transit. Deposited checks are scanned right at the teller line and seamlessly uploaded to the core, automating the process of entering items. The software requires the teller to balance at the time of transaction, providing immediate accuracy of the routing & transit number as well as the check amount," said Mr. Nish Shah, Chief Technology Officer at IMM. "In addition to creating a paperless environment, the data entry by the teller is minimized while achieving a significant cost reduction by eliminating the processing and handling of paper checks," added Mr. Shah.

"This project was a true collaboration effort between Affinity, IMM and MagTek," said Andy Deignan, VP Business Unit Manager for Financial Products at MagTek. "The hard work and attention to detail of all three companies working together ensured that the hardware and software were thoroughly tested to be ready for primetime," added Mr. Deignan.

From the white board to the teller line, Affinity was able to bring 21st century imaging technology to the home front, and reap the benefits promised by Check 21 with the support of MagTek's and IMM's products and services.

About MagTek

Since 1972, MagTek has been a world leader in electronic transaction technology, from magnetic stripe card readers and writers to high-accuracy MICR check readers and scanners, secure PIN issuance and cardholder verification systems. The company's products are in use today at point-of-sale (POS) and back-office locations in thousands of retailers and financial institutions around the world; MagTek's technologies and components are also incorporated into custom retail POS terminals, banking customer service terminals, restaurant and hospitality equipment, Kiosks and ATMs. MagTek is based in Carson, California and has sales offices throughout the United States, Europe, and Asia, with independent distributors in over 40 countries. For more information, please visit www.magtek.com.

About IMM

Integrated Media Management (IMM) specializes in Output Management and Document Automation Technology. We are continually seeking to improve the way financial institutions operate as it relates to our area of expertise. Our products encompass all aspects of the financial institution, providing a rapid rate of return on investment. We work with a number of business partners to achieve seamless integration to host processors. Over 600 financial institutions are currently using Integrated Media Management's software products to automate their process. For more information, please visit www.immonline.com.

Business Services Industry

MagTek and IMM Deliver Check 21 Teller Item Capture Solution To Affinity Federal Credit Union

Business Wire, May 5, 2008

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