|By Business Wire||
|February 6, 2014 09:31 AM EST||
CetoLogic, a provider of coin and currency software and analytics solutions for financial institutions and retailers, announced that W.Va.-based Fairmont Federal Credit Union has significantly reduced time spent on cash management by automating its cash orders and deposits to the Federal Reserve System using C³ Financial’s file extract feature for FedLine® Web.
“Prior to C³ Financial, our staff relied on manual tracking of cash positions and orders to the Fed,” said Beth Bilotta, vice president of Branch Operations for Fairmont Federal Credit Union. “Our primary cash management objective was to simplify our operations, and C³ Financial has reduced our cash ordering process time by providing accurate order guidance for our vault tellers. C³ Financial’s ability to batch all of our branches’ orders into one file for upload to FedLine® Web has been a significant process improvement for us.”
C³ Financial’s file extract for FedCash® Services enables users to log into FedLine® Web and upload CetoLogic’s extract file for a quick and convenient method to order cash from the Federal Reserve Bank. The file extract is directly exported from C³ Financial, which removes any entry errors from copying orders and deposits from the solution to FedLine® Web.
“By incorporating C³ Financial’s file extract feature as part of their cash management process, Fairmont Federal Credit Union has increased efficiencies for the credit union’s staff,” said David Austin, vice president of CetoLogic. “As financial institutions continue to leverage technology to gain efficiencies, automation of processes and third party integrations are vital to accomplishing these goals.”
CetoLogic provides software solutions to financial institutions and retail organizations. Headquartered in Atlanta, Ga., CetoLogic proudly services the needs of over 1,500 clients in all 50 states and Canada. CetoLogic is the designer of, C³ Financial, a web-based cash forecasting and management software. In addition, CetoLogic pioneered Deposit Reclassification, a retail sweep program designed to eliminate reserve balances. CetoLogic’s solutions improve earnings, staff efficiency, risk management and back office operations. For more information about CetoLogic’s solutions, contact them at 1.877.495.0687 or visit their website at www.cetologic.com.
About Fairmont Federal Credit Union
Fairmont Federal Credit Union offers borders beyond Fairmont and benefits beyond banking. A not-for-profit financial organization, democratically controlled, owner and operated by our members for the benefit of all who belong. We operate 10 regional branches with over 135 employees. We are currently one of the fastest growing credit unions in West Virginia with over $280 million in assets. As one of the most progressive credit unions around, our success has been built on our commitment to the credit union philosophy of “People Helping People.”