OMAHA, Neb., Aug. 10, 2021 /PRNewswire-PRWeb/ -- Financial Transmission Network, Inc. (FTNI), a provider of industry-leading integrated receivables, payment processing and cash application solutions, today announced that West Virginia University Foundation (WVUF), the nonprofit organization that provides private support for West Virginia University (WVU), has launched FTNI's ETran Remote Deposit Capture (RDC) solutions to streamline the processing and posting of check-based donations.
Officially founded in 1954 with the vision of Dr. Irvin Stewart, the university's 13th president, WVUF solicits, invests and administers private support on behalf of WVU. Sixty-seven years after its founding, WVUF remains strong. Last year alone, more than 18,000 donors contributed over $270 million to the university.
ETran's advanced RDC module is helping WVUF to more efficiently capture, process and post check-based donations—significantly improving check and donation document processing and operations by electronically depositing donations and automatically delivering donation-related data for cash application and reconciliation purposes within WVUF's back-office donor management and accounting systems. Along with the use of FTNI's RDC solution, WVUF will also be rolling out the ETran mobile application. ETran mobile will allow the foundation's employees to accept donations in the field and have the payment information sent to the home office for processing.
"Check-based donations are an important part of our organization and having advanced solutions to streamline our check acceptance and processing is helping us to become even more efficient within our internal operations," said Elliott Mayle, Director of Advancement Data and Analytics, WVUF. "The ability to centralize check capture capabilities on a single platform has enabled us to accelerate donation processing, while also maximizing transparency and record retention."
ETran's highly-configurable, modular design allows organizations to efficiently tailor the platform to their unique business processes and workflows to modernize and automate payment processing and back-office cash application operations across all payment methods and channels. ETran's agnostic, 'plug-n-play' nature works with existing banking and merchant processor relationships and supports efficient integration (batch or real-time) with any back-office system.
"We're proud to partner with WVUF and help yet another leading nonprofit organization streamline and accelerate their donation management, processing and cash application operations," said John Karhoff, vice president of sales, FTNI. "WVUF's successful adoption of ETran's advanced RDC solutions exemplifies how ETran can help nonprofits to modernize and optimize check-based donation processing on a single, cloud-based platform."
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About West Virginia University Foundation
Founded in 1954, the WVU Foundation's mission is to enrich the lives of those touched by West Virginia University by maximizing charitable support and providing services to the university, its students and affiliated organizations. For more information, visit wvuf.org.
About FTNI
Financial Transmission Network, Inc. (FTNI) accelerates the way businesses accept, process, post and manage payments. Processing millions of transactions monthly, FTNI's integrated receivables platform, ETran, accepts any payment method, via any payment channel—all on a single, secure, cloud-based platform. ETran seamlessly integrates current business processes, bank and merchant processor relationships, and back-office systems to modernize and automate payment processing and cash application operations. Founded in 2007 FTNI serves more than 20,000 corporate users from over 1,000 customers spanning numerous industries including Banking and Financial Services, Distribution, Insurance, Nonprofit, Property Management, Utilities, and more. For more information, visit ftni.com.
Media Contact
Zac Robinson, FTNI, 402-933-8258, [email protected]
SOURCE FTNI
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