MOSINEE, Wis.--(BUSINESS WIRE)--WAUSAU Financial Systems, a provider of best-in-class financial technology, services and solutions, and recently acquired by Deluxe Corporation, today announced an expanded partnership with GardaWorld, the largest privately-owned business solutions and security services company in the world. WAUSAU provides GardaWorld with its Vault Check Capture services, enabling GardaWorld to process bank and retail customer deposits at its more than 100 locations across the nation. This one-of-a-kind, large-capacity, ultra- high-speed imaging capability is in addition to GardaWorld’s existing cash processing service.
Among GardaWorld’s service offerings, which include processing cash for America’s largest financial institutions, it also provides secure transportation to collect cash from multiple business locations to be processed in a local vault. With Vault Check Capture, GardaWorld can also pick up checks to transport to the vaults, where they are processed along with cash. The checks are keyed, balanced and adjusted if necessary, ensuring the entire deposit is fully prepared to be cleared and posted upon arrival at the bank.
Today, large banks routinely work with check, cash, debit and credit card volumes reaching millions of items each month. Banks are turning to providers like GardaWorld for cost effective outsourced solutions like bundled offering of check and cash vault deposit capture with locations throughout the United States in order to better handle this increasing volume of options.
“Our banking partners have long sought ways to shed excess costs and focus on their core offerings,” said Steve Buchberger, senior vice president of strategy and alliances at WAUSAU Financial Systems. “Now, there’s a demand for a scalable, outsourced solution, allowing banks to process cash and checks in one environment.”
The GardaWorld and WAUSAU partnership provides both check processing capture centers throughout the United States with centralized aggregation of the balanced deposits for transmission to the bank. Depending on the check volume at any one location, the expanded solution offers the use of a range of scanning devices from desktop scanning to large high-speed check scanners.
The solution benefits both financial institutions and businesses in payments-rich industries such as retail or service businesses. Businesses can now outsource their cash and check deposit capture and have better funds availability. This eliminates the need to process paper checks in-house and moves it to a variable cost model, thus saving money and time. Financial institutions can provide their business customers increased convenience, enhanced security, exception handling and faster available funds without a significant capital investment, resulting in increased revenue and improved customer relationships.
“Partnering with WAUSAU has enabled us to expand our services, and in turn, our financial institution customers can provide a more holistic offering to their clients including cash and check deposit capture,” said Bruce Kayal, co-head, sales, GardaWorld. “This is an industry changing effort and an exciting opportunity for us and for the entire cash vault market. Through this partnership, we’re now providing FinTech check deposit capture services to eight of the 10 largest U.S. financial institutions and have become one of the largest check processors in the country.”
To learn more about WAUSAU and GardaWorld’s solution, visit booth #401 at AFP Nov. 2-5.
About WAUSAU Financial Systems
WAUSAU is part of the Deluxe
Corporation. Partnering with industry-leading financial institutions and
corporations to reduce cost and strengthen their competitive market
position, WAUSAU is recognized for consistently delivering best-of-breed
financial technology, services and solutions that integrate receivables,
accelerate deposits and payments, and eliminate paper. To meet clients’
needs, WAUSAU offers flexible delivery options– whether installed
in-house, outsourced, co-sourced or in the cloud. Because of WAUSAU’s
deep domain knowledge and experience, the company understands customers’
challenges and tailors its solutions and services to ensure they have a
competitive edge. That’s why thousands of companies, including 13 of the
25 largest financial institutions and more than 50 Fortune 500
organizations depend on WAUSAU. Because results matter. For more
information, visit www.wausaufs.com,
www.linkedin.com/company/wausau-financial-systems
or www.twitter.com/WAUSAU_FS.
ABOUT DELUXE CORPORATION
Deluxe is a growth engine for small
businesses and financial institutions. More than 4.5 million small
business customers access Deluxe's wide range of products and services,
including customized checks and forms, as well as website development
and hosting, email marketing, search engine optimization and logo
design. For our 5,500 financial institution customers, Deluxe offers
industry-leading programs in checks, customer acquisition, fraud
prevention and profitability. Deluxe is also a leading provider of
checks and accessories sold directly to consumers. For more information,
visit us at www.deluxe.com,
www.facebook.com/deluxecorp
or www.twitter.com/deluxecorp.
About GardaWorld
Headquartered in Montreal, Canada,
GardaWorld provides business solutions and security services around the
world. Our 45,000 highly trained, dedicated professionals serve clients
throughout North America, Latin America, Europe, Africa, Asia and the
Middle East. GardaWorld works across a broad range of sectors, including
natural resources, retail, construction, telecommunications and
manufacturing, and on behalf of Fortune 500 companies, governments, NGOs
and humanitarian relief organizations. For more information, visit www.garda.com.
