For years, vault processors have been known for their armored trucks that transport cash from businesses to bank vaults. Yet, cash is not the only game in town – banks, in an effort to outsource their vault operations, are requiring that these same companies add check processing to their offerings.
Avivatech Cash Automation In The Branch of Tomorrow
Snag your free white paper with an inside look into how cash automation from Avivatech can transform your branches. Discover how your bank or credit union can bring your branches into the future.
How VAULT Works
VAULT works in a multi-customer and multi-bank environment allowing your operators to key and balance transaction while the system optimizes each image and MICR read using Digital Check’s Best Read technology so that you achieve the highest Reco and MICR read rates.
Once the transactions have been captured applying each bank’s rules and sort patterns, Vault aggregates the file and produces a bank-specific X9 or XML output file to your bank’s image exchange system. Vault also uses a “Store and Forward” process to streamline the whole operation.
Vault from Avivatech processes both cash and check together as part of one transaction on a single platform; the application also creates virtual tickets for cash in and any adjustments to correct an out-of-balance deposit. The straight-through processing of a single deposit is complete and the transaction is in balance. Vault is certified with Digital Check’s TellerScan® and BranchXpress® series check scanners, as well as the Cummins JetScan iFX® series of currency counters, to function with your existing platform.
Since it integrates with your existing vault management software system, the vault teller can process and proof the cash and check deposits at the same time in the same workflow. The vault application works either in a standalone bank vault or in an armored car virtual vault processing for multiple banks.