CLEARWATER, Fla. — Middlesex Savings Bank, a $3 billion Massachusetts-based financial institution, is now processing ATM deposits using the Microsoft.NET-based solution, Omega by TWS Systems.
According to a news release, Omega automates the processing and management of ATM deposits and features the latest imaging, balancing and fraud detection technology.
Middlesex Savings began using the product last month.
TWS, a Microsoft certified partner, developed Omega to help TWS customers streamline and automate their ATM deposits processing from start to finish. Using digital-image processing and handwriting recognition technology to read check deposit amounts, Omega reduces data entry for ATM reconciliation.
Other key components of Omega include the solution's ability to reduce fraudulent transactions; inherent disaster recovery, which stores and re-routes check images and data; and a lifecycle envelope management feature which tracks ATM deposits, giving managers the flexibility to schedule personnel based on the predicted volume of deposits.
"One of the most immediate benefits of Omega to the user is its ability to support both distributed and centralized processing environments," said Milton King, president of TWS, in the release.
Because it is based on Microsoft.NET, King said, Omega "allows communications across multiple platforms, eliminating the need to maintain multiple servers and the supporting staff required to manage those servers."
Omega communicates using extended markup language or XML, a Check 21-accepted format. With full imaging capabilities, it is designed to be used with image-based ATMs. Omega supports all major ATM networks, branch and centralized check transports and teller window devices such as MICR swipe readers and check-image capture devices.
"We are now able to automate the process rather than manually inputting thousands of envelope deposits into the system," said Patricia Rocha, manager of document management for Orange County Teachers Federal Credit Union, an Omega user. "The solution's browser-based design allows any employee in the credit union to access imaged items. That is an incremental increase in efficiency for the entire credit union."
