New partnership between CheckAlt and CDP enables a simplified workflow and added transparency for teller deposits.
CheckAlt, the largest independent provider of lockbox and item processing in the U.S., is pleased to announce its strategic alliance with teller and lending workflow solution provider CDP to streamline deposit processes for financial institutions, first focusing on the teller deposit experience for credit unions and their members.
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Through this partnership, CDP will utilize CheckAlt’s Check 21 deposit solutions to seamlessly deposit checks and post to credit union cores, customize deposit approval and online decisioning rules via CheckAlt’s CaptureNet Management web portal, and provide greater fraud protection and verification services to credit unions by leveraging CheckAlt’s risk technology.
“We share mutual clients and have identified that through partnership we can remove duplicate efforts from operations and improve the member experience,” explained Alex Grabowski, Director of Sales and Customer Success at CDP. “We deliver modern member communication of teller line activity, eliminate manual end of day teller tasks, automate compliance, and reduce the need for expensive scanning equipment through our joint solution. Our technology partnership enables credit unions to streamline operations while increasing their member engagement and interactivity.”
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CDP’s teller product, eTeller, helps send email and text receipts to credit union members immediately after making a check or cash deposit, as well as enabling the capture of compliance information for automated records retention. The initial results of this partnership have enhanced the teller deposit scan and image experience, assisting credit unions with realizing operational cost savings while also providing additional transparency with CDP’s instant deposit receipts.
“Together with CDP, we are providing our credit union clients with a single workflow that delivers deposit information quickly to members,” said Bobby Rahmanian, Chief Product and Innovation Officer for CheckAlt. “Our credit union and bank customers look for providers who can implement solutions without core impacts. After this initial coupling of CDP’s teller activity technology with CheckAlt’s deposit product, we are already working on additional solutions to deepen the relationship with CDP.”
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