And so we will need to implement further enhancements and functionality to meet those guidelines.’ VSoft Corporation announced in 2015 that Corporate America Credit Union (CACU), a not-for-profit financial cooperative serving credit unions throughout the United States, has selected its IRIS digital banking platform. An existing image capture client, the expanded relationship with Corporate America to now offer IRIS to its more than 500 credit unions further demonstrates VSoft’s market dominance within the credit union industry. Currently, over half of the nation’s corporate credit unions work with VSoft, demonstrating its success in solutions designed for a multi- institution atmosphere such as a corporate. In January 2017,
Other developments
VSoft is eyeing non-US markets for Coresoft, as reflected in a partnership signed in November 2013 with McEnearney Business Machines, covering Trinidad & Tobago. For its wider product set, the supplier has been active outside the US from a relatively early stage, winning an initial deal in the Philippines in 1998. The company has also sought to round out its set of
offerings through a partnership with BankTel Systems, which was signed in September 2013. Carter Bank was the first to take BankTel’s financial platform via this route, signing for BankTel’s Accounts Payable solution to automate its bill payment process. The bank also took BankTel’s Fixed Asset, Shareholder Management and Vendor Management Systems. The BankTel products would be accessed through the Coresoft system with a single sign-on. In August 2015, VSoft Corporation launched IRIS, an omni-channel platform spanning across all devices and channels for both personal and business banking. IRIS allows accountholders to address their banking needs anywhere, anytime and with any device of their choice. The shift in demographics and rapid growth of mobile devices has resulted in a significant increase of not only online banking, but also multi-device banking. VSoft’s IRIS solution is device agnostic and features a responsive design, all while eliminating the need for separate products such as Internet banking, tablet banking and mobile banking. The consolidation of products and the consistent, intuitive interface ensures a positive user experience while delivering the convenience users expect. VSoft Corporation announced in September 2015, that it has partnered with MX to provide a fully-integrated digital money management (DMM) option for IRIS omni-channel banking users. Using the MX Data API, VSoft will integrate the award-winning DMM functionality directly into their omni- channel banking platform, allowing its financial institution clients’ customers to aggregate all of their financial accounts, view every transaction across all accounts, view spending trends and set financial goals all in one place and with any device.
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CACU selected and was in production with its OnView Single Sign-On (SSO) application. The Single Sign-On solution would enable CACU to better manage its third party software applications, including user roles and restrictions. In September 2016, VSoft Corporation, announced that Haven Savings Bank, had selected its OnView Branch Deposit, OnView Business Deposit as well as the complete suite of back-office processing applications. In January 2018, Altoona, Pennsylvania-based Reliance Bank with more than $450 million in assets selected OnViewTM Branch Deposit to automate the validation and balancing of check-based deposits and payments as well as its OnView Business Deposit.
VSoft and Payveris, a multi-channel provider of next
generation digital payment solutions, announced in 2015 that they are expanding an existing strategic partnership to integrate Payveris’ payment solutions into VSoft’s new IRIS Omni-Channel platform. Currently combined with VSoft’s next-generation CoreSoft core processing system, Payveris’ platform will be used as IRIS’ payments engine. Through this strategic alliance, VSoft will offer its financial institution clients a true omni-channel digital banking solution with user-friendly digital payment functionality. In June 2016, VSoft Corporation partnered with North
Carolina-based Advanced Fraud Solutions (AFS), a leading provider of fraud mitigation tools, to integrate its real-time fraud solution, TrueChecks®, into VSoft’s OnView Teller Deposit. The partnership is believed to empower VSoft’s clients with fraud fighting tools and protect VSoft’s client’s information. In May 2017, VSoft unveiled the latest release of the OnView Suite, CoreSoft core processing system and its IRIS digital banking platform and Vantage Platform, which includes remote deposit capture, image processing, digital banking and core processing software. In October 2017, VSoft launched newer features to Arya, its new digital banking platform. The intelligent, open architecture digital services platform for personal and business account holders, will now include new business banking functionalities such as business bill pay and cash management services. The company also added fingerprint authentication for mobile devices and facial recognition for iPhone users to the product in the beginning of 2018.
US Financial Services Technology Market Report |
www.ibsintelligence.com
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