The Credit Union Corporation Australia Ltd (Cuscal) has signed a multimillion dollar contract to centralise its day-to-day cheque processing operations.
Cuscal is a key business services provider to the credit union movement in Australia, supplying liquidity management, retail banking, insurance and financial services, public affairs management, research and training to 180 credit unions.
The three-year deal was awarded to Ausdata , a wholly-owned subsidiary of Kaz Computers, last month. Cuscal's head of transactional business for treasury and operations, David Ingham, declined to disclose the value of the agreement, saying it was commercial in confidence.
The outsourcer will provide Cuscal with a digital, image-based solution designed for processing cheques from member organisations. Cuscal -- responsible for the dishonouring of cheques during the processing stage -- will process some $30 million in cheques a year in processing centres nationally using the new solution, Ingham said.
Ausdata will manage the IT infrastructure needed to run the imaging system, provide operations support and ongoing technical support from one of Kaz's six data centres.
The solution will also be used to manage other lines of Cuscal's transaction business, such as credit card services, company representatives said.
By outsourcing its hardware, software and cheque bureau processing, Ingham said Cuscal expects to reduce the number of touch points with customers, therefore boosting customer service turnaround time. Ingham said the company's move to managed IT systems for cheque processing also set up the platform for its entry into e-commerce.
No staff cuts were made under the outsourcing arrangement, he said.
Cuscal partnered with Kaz because it offered an all-in-one solution, Ingham told Computerworld. Kaz won the contract over seven other local workflow solution developers, none of which he was at liberty to name, Ingham said.