TRANZCAPTURE

TranzCapture LLC Partnership Grows to Five Corporates

Volunteer Corporate CU (VolCorp) has formed a strategic partnership with Catalyst Corporate FCU (Catalyst) to offer TranzCapture item processing services to its members. With the new partnership, VolCorp will transition its existing check processing, check collection and check imaging services to Catalyst and become a reseller of TranzCapture software services.

Created and hosted by Catalyst, the TranzCapture platform is jointly owned by Catalyst, Alloya Corporate FCU, Corporate One FCU and Vizo Financial Corporate CU. VolCorp’s decision to transition its item processing and become a reseller expands the network of corporate credit unions represented by TranzCapture LLC to five. The move increases the CUSO’s reach and Catalyst’s footprint as the largest credit union check processor in the nation.

“We are pleased to have VolCorp join this collaborative effort. Check processing is a volume business, and aggregating item processing creates organizational strength,” said Bruce Fox, President and Chief Executive Officer of Catalyst. “Shared partnership in the TranzCapture CUSO benefits all the participating corporate credit unions and their member credit unions through greater control over product design, technological enhancements, time-to-market and costs.”

“We are extremely excited to partner with Catalyst for the future of our check processing services. As a corporate credit union, Catalyst also understands the cooperative business model, and their dedication to serving the item processing needs of credit unions present and future, aligns with ours,” said Jeff Merry, President and Chief Executive Officer of VolCorp.

After a comprehensive review of item processing platforms, VolCorp ultimately selected Catalyst “based on its experience serving the unique needs of corporate credit unions and its ability to bring new, innovative products to market to help credit unions remain competitive.”

Catalyst established the TranzCapture, LLC software development CUSO in November 2015, responding to a need for deposit capture services built on new technology. The web-based TranzCapture service suite – which currently employs Branch, Teller, ATM/ITM/Intelligent Kiosk, Mobile and Merchant Capture applications – virtually eliminates credit union resources required for product implementation and ongoing updates. Other popular features include real-time duplicate detection across all TranzCapture channels, connectivity to real-time deposit fraud protection, and the ability to route shared branch returns to the proper credit union.

With the addition of VolCorp to the strategic partnership, total market share of the credit union industry is over 75 percent. The partnership will represent more than 3,700 credit unions in 49 states, with approximately 420 million checks processed annually.

Transition of VolCorp’s item processing services to Catalyst’s platform is expected to begin in 2024.

For more information on the services within TranzCapture, contact us today.