Navy Federal Credit Union Deploys Image-Based Capture

Today, Jun 2005

In response to Check 21, Navy Federal Credit Union (www.navyfcu.org), has selected NCR (www.ncr.com), to provide image-based technology for check-image capture, processing, storage and image delivery applications. Navy Federal, is the world's largest credit union with more than $23 billion in assets and some 2.5 million members.

Navy Federal will use NCR's ImageMark Passport to capture, balance and consolidate check images captured throughout its 106 member service centers worldwide. These transactions will be electronically transmitted to Navy Federal's processing center in Vienna, Va., where NCR's ImageMark Transaction Manager system will validate, balance and consolidate check images. Balanced transaction files will be sent to Navy Federal's host system for cash letter generation and to the image exchange application provided by VECTORsgi. Incoming paper and electronic transactions from other financial institutions will be processed using NCR's ImageMark Transaction Manager's Enterprise Balancing application.

"In order to realize our strategic plans for Check 21, we needed to replace our check archiving and microfilm system with a single enterprise-wide image archive. We also wanted to utilize distributed checkimage capture to further automate deposit processing," said Ebb Ebbesen, senior VP of Process Improvement at Navy Federal. "With these initiatives in place, Navy Federal is prepared for Check 21 and the electronic check-processing era."