First Tennessee Bank selected WAUSAU Financial Systems to provide remote deposit capture (RDC) services, expected to go live in July with Risk Monitoring including Location Awareness.
Mosinee, WI (PRWEB) June 24, 2014
First Tennessee Bank, under First Horizon National Corp. (NYSE:FHN), selected WAUSAU Financial Systems, the provider of best-of-breed financial technology, services and solutions, to provide remote deposit capture (RDC) services. The solution, Deposit 24/7, is expected to go live in July with Risk Monitoring including Location Awareness, which aids with compliance by identifying where RDC deposits are captured and transmitted.
First Tennessee Bank, a recognized pioneer in RDC, was in search of a partner to meet the bank’s ever-changing RDC needs and the needs of its customers. This includes:
- Improved risk monitoring functionality to meet regulatory and compliance requirements;
- More RDC functionality, including payment capture, accounts receivable system integrations and export features;
- The ability to offer more options for scanners and drivers while simplifying the scanner licensing process; and,
- Solution training and support for the bank’s RDC customers.
“We needed a solution that would help us remain compliant with recent FFIEC and AML mandates,” said Karen Doyle, senior vice president and senior product manager, Treasury Management Services. “Location Awareness will help us stay ahead of the curve in terms of regulations thanks to its RDC tracking functionality. This was an important factor in the partner decision process.”
Location Awareness provides the ability to track IP addresses to identify where RDC deposits are captured and transmitted. WAUSAU Financial Systems’ Location Awareness alerts financial institutions if deposits are made outside the expected transmitted location, providing greater visibility to potential fraudulent activities.
“First Tennessee Bank prides itself on maintaining a high customer retention rate, which speaks to our positive customer satisfaction rating. To ensure satisfaction, we recognize the importance of the customer experience,” said Taylor Vaughan, director of Treasury Management Services at First Tennessee Bank. “It’s our hope that through a more flexible RDC offering and robust implementation and training courses offered by WAUSAU, our customers, too, will be pleased with this partnership.”
WAUSAU’s Deposit 24/7 Suite, complete with risk monitoring functionality, is a comprehensive solution that includes merchant, consumer, branch and mobile deposit capture points. The RDC solution allows convenient and secure check deposit, saving time and cost while streamlining processes.
“At WAUSAU, we value leadership, not just internally but also in our customers,” said Gary Cawthorne, CEO, WAUSAU Financial Systems. “We’re proud to partner with an RDC leader and pioneer like First Tennessee Bank, a financial institution with deep roots in RDC. We look forward to the evolution of this partnership and our work together to ensure First Tennessee Bank and WAUSAU deliver what customers want and need.”
For more information on WAUSAU and its Deposit 24/7 Suite, visit http://www.wausaufs.com.
About WAUSAU Financial Systems
WAUSAU is a catalyst for results. 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 20 of the 25 largest financial institutions and thousands of other leading organizations depend on WAUSAU. Because results matter.
About First Horizon
The 4,300 employees of First Horizon National Corp. (NYSE:FHN) provide financial services through more than 170 First Tennessee Bank locations in and around Tennessee and 21 FTN Financial offices in the U.S. and abroad. The company was founded during the Civil War in 1864 and has the 14th oldest national bank charter in the country. First Tennessee has the leading market share in Tennessee and one of the highest customer retention rates of any bank in the country. FTN Financial is a capital markets industry leader in fixed income sales, trading and strategies for institutional clients in the U.S. and abroad. First Horizon has been recognized as one of the nation's best employers by Working Mother and American Banker magazines. More information is available at http://www.FirstHorizon.com.