ATLANTA, June 24, 2014 – CetoLogic, a provider of software and analytics for financial institutions and retailers, announced that Moline, Ill.-based IH Mississippi Valley Credit Union ($892 million in assets) has reduced time spent on cash management by 40 percent since automating cash orders to its money supplier through CetoLogic’s leading cash management and predictive analytics solution, C3 Financial.
“Prior to utilizing C3 Financial and the solution’s integration to our money supplier, Wells Fargo, each branch submitted orders separately and had to manually enter orders into multiple systems,” said Christine Schnoor, accounting manager for IH Mississippi Valley Credit Union. “This multiple order process and dual entry was time consuming and exposed us to erroneous entries. The centralization and integration between C3 Financial and Wells Fargo has streamlined our order fulfillment process and cash management operational practices, saving significant time and mitigating human error.”
IH Mississippi Valley Credit Union personnel approve cash order recommendations directly through C3 Financial which are then automatically sent to the credit union’s money supplier with the identifications and associations necessary to process the order. After submitting the approved orders, IH Mississippi Valley Credit Union receives an automatic response through C3 Financial confirming the order was successfully accepted by the money supplier.
“Having branch personnel copy cash orders from one system to another leaves room for error, wasting resources and time,” said David Austin, vice president of CetoLogic. “C3 Financial’s established integrations with the industry’s leading money suppliers simplify the cash ordering process and ensure order accuracy, freeing up customers like IH Mississippi Valley Credit Union to focus more of its attention on serving its members.”
About IH Mississippi Valley Credit Union
IH Mississippi Valley Credit Union is the largest credit union in the Quad City area and the sixth largest in the state of Illinois. It has more than $892 million in assets and more than 100,000 members. IH Mississippi Valley Credit Union operates 14 branches including locations in Bettendorf, Davenport and DeWitt, Iowa, as well as Galesburg, East Moline, Milan, Moline, Monmouth, Prophetstown, Rock Island and Silvis, Illinois.
Atlanta, Ga.-based CetoLogic provides software solutions and analytics to financial institutions and retail organizations. CetoLogic proudly services the needs of more than 1,500 clients in 50 states and Canada by providing “Smart Solutions that Make Dollars and Sense.” CetoLogic is the designer of C3 Financial, a web-based cash forecasting and management software. CetoLogic also pioneered Deposit Reclassification, a retail sweep program designed to eliminate reserve balances. CetoLogic’s solutions improve earnings, efficiencies, risk management and operations. For more information about CetoLogic’s solutions, call 1.877.495.0687.