With $11.5 billion in assets, CIBC FirstCaribbean has plans to deploy VSoft solutions in 15 branches across seven islands, the bank said.
Additionally, the lender will implement VSoft’s image exchange solution, exceptions processing for both outgoing and incoming returns together with duplicate detection and archival and retrieval applications.
According to the firm, its back counter capture solution provides automated image and data workflows, which capture, correct and balance transactions and include comprehensive validation features, reducing errors and accelerating processing.
VSoft’s image exchange product, equipped with rules-based sorting, will assist CIBC FirstCaribbean further expedite procedures and reduce transportation costs.
CIBC FirstCaribbean chief administrative officer Minish Parikh said VSoft’s solutions position the bank to easily satisfy the impending requirements for image exchange while also greatly enhancing day-to-day operations.
"VSoft has in depth knowledge in the image exchange industry. We are pleased to have a proven partner with familiarity and experience in our banking processes, which gives us confidence as we approach significant changes," Parikh added.
Headquartered in Barbados, CIBC FirstCaribbean International Bank is a relationship bank which provides a range of market-leading financial services through corporate investment banking, wealth management and retail banking.
