Wausau Financial Systems Chosen as Remote Capture Solution Provider; PlainsCapital Bank to Launch Innovative Remote Capture Stra

Printer-friendly versionPDF version

Mosinee, WI - 04/28/2005Wausau Financial Systems (WFS) announced today that Texas-based PlainsCapital Bank has chosen WFS’ DigitalDeposit™ solution as an integral part of its aggressive strategy to offer leading services to correspondent bank and commercial depositor customers.

DigitalDeposit from WFS is a remote deposit imaging and transmittal application used by commercial depositors and/or by depositing correspondent banks. Commercial depositors will use it to capture and transmit error-free, balanced and completed check deposits from their own sites or offices. Correspondent banks will use it to electronically send image cash letters to PlainsCapital Bank.

While seeking to offer an easy-to-use, secure means of delivering this service to both commercial depositors and correspondent bank cash letter depositors, PlainsCapital Bank carefully selected WFS as a business partner due in part to WFS' DigitalDeposit proven marketplace usage since 2004.

Executive Vice President and Chief of Bank Operations of PlainsCapital Bank, Pete Villarreal comments, “In everything we do, even behind the scenes, we work diligently to eliminate obstacles so our customers have easy access to all of the services they need to realize their financial goals. Partnering with Wausau to provide the best in digitized deposits is one more way we can enhance our customers' experience."

Product Line Director of Financial Products with WFS, Bill Robertson explains, “By redefining the workflow associated with many traditional check deposit processing steps, PlainsCapital Bank will see significant improvements in several areas. These areas include accelerated clearing, reduced operational expense, extended processing hours and improved exception item handling. Additionally, the bank will benefit from reduced fraud and improved funds collection. This is achieved through the solution’s ability to interface to virtually any item processing capture system, archive, host application, image exchange network, or substitute check printing application.”

With more than $2.5 billion in assets and locations in Austin, Dallas, Fort Worth, Lubbock, and San Antonio, PlainsCapital Bank is the second largest privately held bank in Texas. It is the cornerstone of diversified financial services company PlainsCapital Corporation which offers customers a one-stop resource for a broad array of services including commercial and private banking, wealth management, trust, treasury management, capital equipment leasing, residential mortgage, title insurance and 1031 exchange services.

About PlainsCapital Corporation:

PlainsCapital Corporation is among the largest privately-held financial services companies in Texas, serving business centers and communities across the state. An integral part of this family of 10 companies, PlainsCapital Bank is the second-largest independent bank in Texas with over $2.5 billion in assets. Offering a broad array of financial services including commercial and private banking, wealth management, trust, treasury management, capital equipment leasing, residential mortgage, title insurance and 1031 exchange services, PlainsCapital's 1,500 employees are empowered to deliver individualized solutions to ensure their clients' financial success. Find more information at www.PlainsCapital.com.

About Wausau Financial Systems:

Wausau Financial Systems (WFS) is the recognized leader in the development and implementation of distributed point-of-presentment processing solutions to the check and remittance processing industries. WFS provides transaction-processing applications for all size companies including Fortune 500 corporations, financial institutions ranging from the Top 100 to independent locations, and commercial businesses worldwide. www.wausaufs.com.

News Source : Wausau Financial Systems Chosen as Remote Capture Solution Provider; PlainsCapital Bank to Launch Innovative Remote Capture Strategy